California Public Employees Retirement System Has $104.68 Million Position in Trane Technologies plc (NYSE:TT)

California Public Employees Retirement System lessened its holdings in Trane Technologies plc (NYSE:TT) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 429,193 shares of the company’s stock after selling 11,650 shares during the quarter. California Public Employees Retirement System owned 0.19% of Trane Technologies worth $104,680,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Trane Technologies by 4.3% in the 3rd quarter. CWM LLC now owns 4,653 shares of the company’s stock valued at $944,000 after acquiring an additional 191 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Trane Technologies by 18.9% in the 3rd quarter. Global Retirement Partners LLC now owns 958 shares of the company’s stock valued at $192,000 after acquiring an additional 152 shares during the last quarter. Avior Wealth Management LLC raised its position in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares during the last quarter. Caprock Group LLC raised its position in Trane Technologies by 15.8% during the 3rd quarter. Caprock Group LLC now owns 1,528 shares of the company’s stock worth $310,000 after purchasing an additional 208 shares during the last quarter. Finally, Greenwood Capital Associates LLC bought a new position in Trane Technologies during the 3rd quarter worth $3,824,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other news, SVP Keith A. Sultana sold 1,637 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total value of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at approximately $11,345,214.76. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock worth $8,462,825 in the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup raised their target price on Trane Technologies from $309.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays raised their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Stephens raised their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada raised their target price on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group raised their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $251.83.

Trane Technologies Stock Performance

TT stock opened at $294.97 on Wednesday. The stock has a 50-day moving average price of $290.57 and a 200-day moving average price of $252.93. Trane Technologies plc has a 1-year low of $162.04 and a 1-year high of $306.98. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm has a market cap of $66.98 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.05.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. Trane Technologies’s dividend payout ratio is presently 38.23%.

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.