Healthcare of Ontario Pension Plan Trust Fund Sells 52,964 Shares of Trane Technologies plc $TT

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in Trane Technologies plc (NYSE:TT - Free Report) by 79.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,901 shares of the company's stock after selling 52,964 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Trane Technologies were worth $5,793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC raised its stake in shares of Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after buying an additional 34 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at $25,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies in the third quarter worth about $32,000. Physician Wealth Advisors Inc. raised its position in Trane Technologies by 192.6% in the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new position in Trane Technologies in the first quarter valued at about $33,000. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on TT shares. KeyCorp upped their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Evercore started coverage on Trane Technologies in a report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target on the stock. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $516.67.

Trane Technologies Stock Performance

TT opened at $446.90 on Thursday. The business's 50-day simple moving average is $470.96 and its 200 day simple moving average is $452.15. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The firm has a market capitalization of $98.79 billion, a PE ratio of 34.56, a PEG ratio of 2.16 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same period last year, the company earned $2.45 earnings per share. The business's revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 32.48%.

Trane Technologies Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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