Public Employees Retirement Association of Colorado Makes New Investment in Trane Technologies plc (NYSE:TT)

Public Employees Retirement Association of Colorado bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,721 shares of the company's stock, valued at approximately $10,977,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in Trane Technologies during the fourth quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in shares of Trane Technologies by 1,314.3% in the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company's stock worth $37,000 after buying an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $39,000. Finally, BankPlus Trust Department purchased a new stake in Trane Technologies in the 4th quarter worth approximately $45,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday. Citigroup lifted their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $417.25.

Trane Technologies Trading Up 2.5 %

Shares of TT stock traded up $9.72 on Thursday, hitting $393.03. 2,106,758 shares of the stock traded hands, compared to its average volume of 1,317,035. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $422.00. The firm's 50-day moving average price is $342.32 and its two-hundred day moving average price is $372.27. The stock has a market capitalization of $88.15 billion, a PE ratio of 34.94, a PEG ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.94 EPS. As a group, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 33.42%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 198 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares of the company's stock, valued at $7,346,115.56. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,805 shares of company stock valued at $3,945,082. 0.38% of the stock is currently owned by insiders.

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.