State of Alaska Department of Revenue Reduces Stock Holdings in Trane Technologies plc (NYSE:TT)

State of Alaska Department of Revenue decreased its position in Trane Technologies plc (NYSE:TT) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,260 shares of the company’s stock after selling 1,965 shares during the period. State of Alaska Department of Revenue’s holdings in Trane Technologies were worth $11,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of TT. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trane Technologies by 0.5% during the first quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after acquiring an additional 80,536 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Trane Technologies by 35,914.4% during the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after acquiring an additional 1,640,569 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Trane Technologies by 0.3% during the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock worth $357,043,000 after acquiring an additional 2,898 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Trane Technologies by 3.1% during the third quarter. Raymond James & Associates now owns 1,076,484 shares of the company’s stock worth $418,462,000 after acquiring an additional 32,079 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TT shares. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $373.58.

Trane Technologies Price Performance

TT opened at $392.57 on Monday. The stock has a market cap of $88.59 billion, a PE ratio of 38.83, a P/E/G ratio of 2.70 and a beta of 1.01. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 52 week low of $184.24 and a 52 week high of $406.96. The business’s fifty day simple moving average is $374.71 and its 200 day simple moving average is $343.06.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Trane Technologies’s dividend payout ratio is presently 33.23%.

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.