Oregon Public Employees Retirement Fund Sells 80 Shares of Trane Technologies plc (NYSE:TT)

Oregon Public Employees Retirement Fund reduced its position in Trane Technologies plc (NYSE:TT) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,271 shares of the company’s stock after selling 80 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Trane Technologies were worth $7,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates bought a new stake in Trane Technologies in the 4th quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at about $27,000. Sound Income Strategies LLC increased its position in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares during the period. Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies during the third quarter valued at about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the fourth quarter valued at about $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Up 0.4 %

Shares of TT opened at $350.30 on Thursday. The firm has a market cap of $78.57 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.05. The stock has a 50 day simple moving average of $372.37 and a two-hundred day simple moving average of $380.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00.

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

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio is 29.87%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TT. Wells Fargo & Company decreased their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $415.25.

Insider Activity

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is currently 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.