California State Teachers Retirement System Cuts Position in Trane Technologies plc (NYSE:TT)

California State Teachers Retirement System decreased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 360,654 shares of the company's stock after selling 5,320 shares during the period. California State Teachers Retirement System owned about 0.16% of Trane Technologies worth $133,208,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TT. Vanguard Group Inc. raised its position in Trane Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock valued at $7,104,658,000 after purchasing an additional 152,353 shares in the last quarter. Geode Capital Management LLC raised its position in Trane Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Norges Bank acquired a new stake in Trane Technologies in the 4th quarter valued at about $1,117,816,000. Northern Trust Corp raised its position in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Trane Technologies in the 4th quarter valued at about $611,322,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

NYSE:TT traded up $9.72 during trading hours on Thursday, reaching $393.03. 2,106,758 shares of the company's stock were exchanged, compared to its average volume of 1,317,035. The firm has a market capitalization of $88.15 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a 50-day moving average of $343.25 and a 200 day moving average of $372.19. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. The firm 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%. Trane Technologies's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 EPS. Research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TT shares. Citigroup increased their price target on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research report on Thursday. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday. Melius downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective on Trane Technologies from $323.00 to $334.00 and gave the company a "neutral" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $417.25.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares of the company's stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,805 shares of company stock worth $3,945,082. 0.38% of the stock is 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.