New York State Teachers Retirement System Grows Stake in Trane Technologies plc $TT

Key Points

• The New York State Teachers Retirement System increased its stake in Trane Technologies plc by 0.7% during Q2, owning approximately 0.08% of the company valued at $75.18 million.
• Trane Technologies reported a quarterly EPS of $3.88, exceeding analysts' expectations, and a revenue of $5.75 billion, reflecting a 7.6% year-over-year growth.
• The company announced a quarterly dividend of $0.94 per share, with the next payment scheduled for December 31st for shareholders recorded by December 5th.

New York State Teachers Retirement System raised its stake in Trane Technologies plc (NYSE:TT - Free Report) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,881 shares of the company's stock after purchasing an additional 1,261 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Trane Technologies worth $75,182,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company's stock valued at $382,000 after purchasing an additional 183 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Trane Technologies during the second quarter worth about $345,000. Jones Financial Companies Lllp increased its position in shares of Trane Technologies by 350.3% during the first quarter. Jones Financial Companies Lllp now owns 21,191 shares of the company's stock worth $7,140,000 after acquiring an additional 16,485 shares during the last quarter. BROOKFIELD Corp ON increased its position in shares of Trane Technologies by 11.0% during the first quarter. BROOKFIELD Corp ON now owns 8,227 shares of the company's stock worth $2,772,000 after acquiring an additional 812 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. increased its position in shares of Trane Technologies by 17.5% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 3,090 shares of the company's stock worth $1,041,000 after acquiring an additional 460 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Down 0.2%

NYSE:TT opened at $423.27 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. The stock has a 50-day simple moving average of $418.11 and a 200 day simple moving average of $410.26. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a market capitalization of $94.18 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. Trane Technologies's quarterly revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Trane Technologies's payout ratio is presently 29.82%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Hsbc Global Res lowered Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Morgan Stanley lifted their target price on Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Citigroup dropped their target price on Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. The Goldman Sachs Group lifted their target price on Trane Technologies from $416.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on Trane Technologies from $410.00 to $415.00 and gave the stock an "underweight" rating in a research note on Monday, October 6th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $460.00.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. The trade was a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.

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