Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in Trane Technologies plc (NYSE:TT)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Trane Technologies plc (NYSE:TT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,585 shares of the company's stock, valued at approximately $2,219,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Trane Technologies by 7.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,856 shares of the company's stock valued at $686,000 after acquiring an additional 133 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Trane Technologies by 20.9% in the fourth quarter. Private Advisor Group LLC now owns 10,342 shares of the company's stock valued at $3,820,000 after purchasing an additional 1,789 shares in the last quarter. Handelsbanken Fonder AB increased its position in Trane Technologies by 116.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,927 shares of the company's stock worth $8,099,000 after purchasing an additional 11,776 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in Trane Technologies by 5.4% during the fourth quarter. Sigma Planning Corp now owns 5,155 shares of the company's stock valued at $1,904,000 after purchasing an additional 265 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trane Technologies

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 stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now owns 3,593 shares in the company, valued at $1,365,340. This represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of research reports. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a report on Thursday, May 1st. Robert W. Baird lifted their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada lifted their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a report on Thursday, May 1st. Finally, UBS Group increased their price target on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Trading Up 0.4%

TT traded up $1.89 on Tuesday, reaching $428.81. 386,461 shares of the company traded hands, compared to its average volume of 1,340,771. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. The company has a market cap of $95.63 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The firm has a fifty day simple moving average of $402.73 and a two-hundred day simple moving average of $376.78. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results 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. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. Trane Technologies's quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

About Trane Technologies

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.