Public Employees Retirement System of Ohio Buys New Position in Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio acquired a new position in Trane Technologies plc (NYSE:TT) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 104,234 shares of the company’s stock, valued at approximately $40,519,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversify Advisory Services LLC increased its position in Trane Technologies by 11.4% in the 2nd quarter. Diversify Advisory Services LLC now owns 809 shares of the company’s stock valued at $270,000 after acquiring an additional 83 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Trane Technologies by 12.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,773 shares of the company’s stock worth $1,570,000 after acquiring an additional 524 shares in the last quarter. Diversified Trust Co grew its position in shares of Trane Technologies by 9.2% in the second quarter. Diversified Trust Co now owns 3,166 shares of the company’s stock valued at $1,042,000 after purchasing an additional 268 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Trane Technologies by 12.3% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 2,615 shares of the company’s stock valued at $860,000 after purchasing an additional 287 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Trane Technologies by 95.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,969 shares of the company’s stock worth $21,370,000 after buying an additional 31,756 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 2.5 %

NYSE:TT opened at $401.78 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $400.85 and its two-hundred day moving average price is $362.45. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The firm has a market capitalization of $90.41 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 2.50 and a beta of 1.03.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that Trane Technologies plc will post 11.13 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TT shares. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 price target for the company. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price on the stock. in a research report on Thursday, October 31st. Barclays upped their price objective on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup increased their target price on shares of Trane Technologies from $457.00 to $478.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $409.93.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the transaction, the senior vice president now directly owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This trade represents a 25.14 % 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. 0.38% of the stock is owned by company insiders.

About Trane Technologies

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.