Teacher Retirement System of Texas Acquires 45,298 Shares of Trane Technologies plc (NYSE:TT)

Teacher Retirement System of Texas grew its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,483 shares of the company's stock after buying an additional 45,298 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Trane Technologies worth $81,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cobblestone Capital Advisors LLC NY raised its holdings in shares of Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock valued at $579,000 after purchasing an additional 27 shares during the last quarter. Wescott Financial Advisory Group LLC raised its position in Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company's stock worth $670,000 after acquiring an additional 28 shares during the period. Secured Retirement Advisors LLC boosted its stake in Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after acquiring an additional 28 shares during the last quarter. First Citizens Financial Corp grew its position in shares of Trane Technologies by 4.6% during the 4th quarter. First Citizens Financial Corp now owns 656 shares of the company's stock valued at $242,000 after acquiring an additional 29 shares during the period. Finally, Catalina Capital Group LLC raised its holdings in shares of Trane Technologies by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after purchasing an additional 29 shares during the period. 82.97% of the stock is owned by institutional investors.

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Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 876 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Melius Research reissued a "hold" rating and issued a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. UBS Group reduced their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. increased their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $413.69.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded up $11.44 on Monday, hitting $358.58. 1,587,788 shares of the company traded hands, compared to its average volume of 1,167,791. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. 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 company has a market cap of $80.43 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.50 and a beta of 1.08. The firm's 50-day simple moving average is $361.24 and its 200 day simple moving average is $379.99.

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

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies's payout ratio is 33.42%.

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.