Illinois Municipal Retirement Fund Lowers Position in Trane Technologies plc (NYSE:TT)

Illinois Municipal Retirement Fund cut its stake in shares of Trane Technologies plc (NYSE:TT) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,773 shares of the company’s stock after selling 4,581 shares during the period. Illinois Municipal Retirement Fund’s holdings in Trane Technologies were worth $8,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keel Point LLC raised its holdings in Trane Technologies by 3.0% during the fourth quarter. Keel Point LLC now owns 1,326 shares of the company’s stock valued at $323,000 after acquiring an additional 39 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Trane Technologies by 27.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Trane Technologies by 2.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,847 shares of the company’s stock worth $450,000 after purchasing an additional 42 shares during the last quarter. Cedrus LLC increased its holdings in shares of Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock worth $407,000 after purchasing an additional 43 shares during the last quarter. Finally, Certuity LLC grew its position in Trane Technologies by 3.1% in the third quarter. Certuity LLC now owns 1,549 shares of the company’s stock worth $314,000 after acquiring an additional 46 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

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

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for 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 firm earned $1.82 EPS. As a group, research analysts expect that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TT shares. Royal Bank of Canada lifted their price target 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. Stephens lifted their price target 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. The Goldman Sachs Group boosted their target price on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Citigroup boosted their target price on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $251.83.

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.