Louisiana State Employees Retirement System Buys Shares of 11,300 Trane Technologies plc $TT

Key Points

• Louisiana State Employees Retirement System initiated a new position in Trane Technologies, buying 11,300 shares worth about $4.7 million in the first quarter.
• Insider selling was reported, including sales by Donald E. Simmons and CFO Christopher J. Kuehn under pre-arranged trading plans, while institutional investors still own 82.97% of the stock.
• Trane Technologies reported better-than-expected quarterly results with EPS of $2.63 and revenue of $4.97 billion, and it also announced a quarterly dividend of $1.05 per share payable September 30.

Louisiana State Employees Retirement System purchased a new position in shares of Trane Technologies plc (NYSE:TT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,300 shares of the company's stock, valued at approximately $4,709,000.

Several other large investors also recently added to or reduced their stakes in TT. Bell Investment Advisors Inc lifted its holdings in Trane Technologies by 12.2% during the first quarter. Bell Investment Advisors Inc now owns 203 shares of the company's stock valued at $85,000 after purchasing an additional 22 shares during the last quarter. Fiduciary Family Office LLC increased its stake in shares of Trane Technologies by 1.5% in the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock worth $612,000 after purchasing an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC raised its position in shares of Trane Technologies by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock valued at $93,000 after purchasing an additional 23 shares during the period. West Family Investments Inc. lifted its stake in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company's stock valued at $452,000 after buying an additional 24 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company's stock valued at $2,959,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

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Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares of the company's stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

TT has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Royal Bank Of Canada lifted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Citigroup boosted their price objective on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Barclays increased their price objective on Trane Technologies from $507.00 to $585.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Finally, BNP Paribas Exane initiated coverage on Trane Technologies in a research note on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $509.12.

Trane Technologies Price Performance

TT opened at $478.08 on Friday. The stock has a 50-day moving average price of $469.89 and a 200-day moving average price of $437.98. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $105.68 billion, a P/E ratio of 36.97, a PEG ratio of 2.32 and a beta of 1.20.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $4.97 billion for the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.45 EPS. Equities analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio (DPR) is presently 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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