Arizona State Retirement System Has $22.25 Million Holdings in Trane Technologies plc (NYSE:TT)

Arizona State Retirement System boosted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,038 shares of the company's stock after acquiring an additional 948 shares during the quarter. Arizona State Retirement System's holdings in Trane Technologies were worth $22,250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. WFA Asset Management Corp lifted its holdings in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 1st quarter valued at about $31,000. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Trane Technologies by 46.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after buying an additional 30 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

TT opened at $437.39 on Friday. The stock has a market cap of $97.55 billion, a PE ratio of 36.39, a P/E/G ratio of 2.85 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $438.95. The stock's 50 day simple moving average is $425.99 and its 200-day simple moving average is $381.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, September 5th. Trane Technologies's dividend payout ratio is 31.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TT. Citigroup raised their price objective on Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada raised their price objective on Trane Technologies from $363.00 to $408.00 and gave the company a "sector perform" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Barclays raised their price objective on Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $434.00.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider owned 3,593 shares of the company's stock, valued at $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate 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.

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