Teachers Retirement System of The State of Kentucky Sells 1,750 Shares of Trane Technologies plc (NYSE:TT)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,450 shares of the company’s stock after selling 1,750 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Trane Technologies were worth $9,645,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Trane Technologies by 52.3% in the fourth quarter. FMR LLC now owns 9,959,508 shares of the company’s stock valued at $1,445,722,000 after acquiring an additional 3,421,200 shares in the last quarter. Norges Bank bought a new stake in shares of Trane Technologies in the fourth quarter valued at about $410,327,000. BlackRock Inc. raised its holdings in shares of Trane Technologies by 4.7% in the fourth quarter. BlackRock Inc. now owns 17,933,014 shares of the company’s stock valued at $2,603,156,000 after acquiring an additional 798,631 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Trane Technologies by 77.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,149,639 shares of the company’s stock valued at $166,880,000 after acquiring an additional 501,561 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Trane Technologies by 19.7% in the fourth quarter. Federated Hermes Inc. now owns 1,857,437 shares of the company’s stock valued at $269,625,000 after acquiring an additional 306,090 shares in the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.

Shares of NYSE TT opened at $167.64 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.67 and a debt-to-equity ratio of 0.70. The firm has a market cap of $39.97 billion, a P/E ratio of 44.94, a P/E/G ratio of 2.51 and a beta of 0.95. The business’s 50 day moving average price is $160.64 and its 200 day moving average price is $145.12. Trane Technologies plc has a 52 week low of $73.73 and a 52 week high of $169.47.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 4th. The company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.11. Trane Technologies had a return on equity of 18.42% and a net margin of 6.75%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Trane Technologies’s revenue was down .2% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 4.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, March 5th were paid a $0.59 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 4th. Trane Technologies’s dividend payout ratio is currently 37.05%.

Several analysts recently weighed in on TT shares. Morgan Stanley lifted their price objective on Trane Technologies from $150.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $137.00 to $145.00 and gave the stock a “sector perform” rating in a report on Monday, February 8th. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on shares of Trane Technologies from $158.00 to $166.00 and gave the stock an “outperform” rating in a report on Monday, February 8th. Jefferies Financial Group boosted their target price on shares of Trane Technologies from $140.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, January 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Trane Technologies from $143.00 to $151.00 and gave the stock a “hold” rating in a report on Monday, February 8th. 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. Trane Technologies has a consensus rating of “Hold” and a consensus price target of $139.00.

In related news, EVP Marcia J. Avedon sold 2,737 shares of the stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $147.16, for a total value of $402,776.92. Also, SVP Keith A. Sultana sold 4,914 shares of the stock in a transaction on Friday, February 5th. The shares were sold at an average price of $150.32, for a total value of $738,672.48. Following the completion of the transaction, the senior vice president now directly owns 16,561 shares of the company’s stock, valued at $2,489,449.52. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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