State of Tennessee Department of Treasury Sells 8,557 Shares of Trane Technologies plc (NYSE:TT)

State of Tennessee Department of Treasury lowered its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,120 shares of the company's stock after selling 8,557 shares during the quarter. State of Tennessee Department of Treasury's holdings in Trane Technologies were worth $30,331,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Trane Technologies during the 4th quarter valued at $1,117,816,000. Raymond James Financial Inc. bought a new position in Trane Technologies during the fourth quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company's stock worth $167,977,000 after buying an additional 350,277 shares during the last quarter. Nordea Investment Management AB raised its position in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new position in Trane Technologies in the fourth quarter valued at about $98,560,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Price Performance

Shares of NYSE TT traded up $5.19 during midday trading on Friday, hitting $348.23. 1,677,708 shares of the company's stock were exchanged, compared to its average volume of 1,309,370. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The business's fifty day moving average price is $342.66 and its two-hundred day moving average price is $373.33. The company has a market cap of $78.10 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $291.37 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is currently 33.42%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TT shares. Barclays lowered their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Melius Research reissued a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $415.00 in a report on Friday. Finally, Royal Bank of Canada lifted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $405.94.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.