Louisiana State Employees Retirement System Cuts Stake in Trane Technologies plc (NYSE:TT)

Louisiana State Employees Retirement System lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 3.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,800 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Trane Technologies were worth $4,210,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Motco bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $27,000. Sachetta LLC purchased a new position in Trane Technologies during the fourth quarter worth about $27,000. GoalVest Advisory LLC increased its stake in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies in the 1st quarter valued at about $27,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Trane Technologies during the 1st quarter valued at about $30,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Mizuho raised their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their target price on Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Barclays raised their price target on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $323.29.

Insiders Place Their Bets

In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,243 shares of company stock valued at $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Up 0.7 %

Shares of Trane Technologies stock traded up $2.40 during midday trading on Friday, hitting $353.11. The company had a trading volume of 184,824 shares, compared to its average volume of 1,117,117. The company has a 50 day moving average of $335.01 and a 200 day moving average of $313.65. The stock has a market capitalization of $79.93 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $355.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. On average, equities analysts predict that Trane Technologies plc will post 10.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Trane Technologies Company 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.