New York State Teachers Retirement System Lowers Position in Trane Technologies plc (NYSE:TT)

Posted by Defense World Staff on Apr 11th, 2023

New York State Teachers Retirement System reduced its stake in Trane Technologies plc (NYSE:TT – Get Rating) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,765 shares of the company’s stock after selling 5,031 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Trane Technologies worth $39,125,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TT. Center for Financial Planning Inc. lifted its stake in Trane Technologies by 16.1% during the fourth quarter. Center for Financial Planning Inc. now owns 2,036 shares of the company’s stock worth $342,000 after purchasing an additional 282 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Trane Technologies by 7.5% during the 4th quarter. Natixis Advisors L.P. now owns 116,170 shares of the company’s stock worth $19,527,000 after acquiring an additional 8,115 shares in the last quarter. BDO Wealth Advisors LLC boosted its holdings in Trane Technologies by 615.6% during the 4th quarter. BDO Wealth Advisors LLC now owns 229 shares of the company’s stock valued at $38,000 after acquiring an additional 197 shares during the period. Means Investment CO. Inc. acquired a new position in Trane Technologies in the 4th quarter valued at about $212,000. Finally, Oregon Public Employees Retirement Fund increased its stake in Trane Technologies by 105.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 36,278 shares of the company’s stock worth $6,098,000 after purchasing an additional 18,589 shares during the period. Institutional investors and hedge funds own 81.47% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of research reports. BMO Capital Markets cut shares of Trane Technologies from an “outperform” rating to a “market perform” rating and set a $180.00 price objective for the company. in a report on Wednesday, December 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Trane Technologies from $170.00 to $184.00 in a research report on Friday, February 3rd. Citigroup lifted their target price on Trane Technologies from $204.00 to $218.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Bank of America downgraded Trane Technologies from a “neutral” rating to an “underperform” rating and set a $160.00 price target on the stock. in a report on Monday, December 12th. Finally, Wells Fargo & Company lifted their price objective on Trane Technologies from $163.00 to $176.00 and gave the company an “underweight” rating in a research note on Friday, February 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.78.

Trane Technologies Stock Performance

NYSE TT opened at $171.09 on Tuesday. The company has a fifty day moving average of $182.85 and a two-hundred day moving average of $172.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.12 and a quick ratio of 0.77. Trane Technologies plc has a 1 year low of $120.64 and a 1 year high of $196.22. The company has a market capitalization of $39.19 billion, a PE ratio of 22.84, a P/E/G ratio of 1.90 and a beta of 0.99.

Trane Technologies (NYSE:TT – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. As a group, analysts expect that Trane Technologies plc will post 8.24 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.00 annualized dividend and a yield of 1.75%. Trane Technologies’s dividend payout ratio (DPR) is 40.05%.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 462 shares of Trane Technologies stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $186.02, for a total value of $85,941.24. Following the transaction, the senior vice president now directly owns 17,573 shares in the company, valued at $3,268,929.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Evan M. Turtz sold 462 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $186.02, for a total value of $85,941.24. Following the transaction, the senior vice president now owns 17,573 shares of the company’s stock, valued at $3,268,929.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Keith A. Sultana sold 3,521 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $185.07, for a total value of $651,631.47. Following the sale, the senior vice president now owns 34,616 shares of the company’s stock, valued at approximately $6,406,383.12. The disclosure for this sale can be found here. Insiders sold a total of 15,967 shares of company stock worth $3,007,750 in the last 90 days. Company insiders own 0.74% of the company’s stock.

About Trane Technologies

(Get Rating)

Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.