North Dakota State Investment Board Buys Shares of 7,646 Trane Technologies plc $TT

Key Points

• North Dakota State Investment Board opened a new position in Trane Technologies during Q4, buying 7,646 shares worth about $2.98 million.
• Trane Technologies beat quarterly expectations, reporting EPS of $2.63 on revenue of $4.97 billion, with sales up 6% year over year.
• The company also declared a quarterly dividend of $1.05 per share, while analysts currently rate the stock a “Moderate Buy” with an average target price of $506.56.

North Dakota State Investment Board bought a new stake in Trane Technologies plc (NYSE:TT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,646 shares of the company's stock, valued at approximately $2,976,000.

Other institutional investors also recently bought and sold shares of the company. United Community Bank lifted its holdings in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after acquiring an additional 43 shares during the period. JPL Wealth Management LLC bought a new position in Trane Technologies in the third quarter valued at about $32,000. KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies in the third quarter valued at about $42,000. Hantz Financial Services Inc. increased its position in Trane Technologies by 58.2% in the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company's stock worth $45,000 after buying an additional 39 shares in the last quarter. Finally, Key Financial Inc increased its position in Trane Technologies by 833.3% in the third quarter. Key Financial Inc now owns 112 shares of the company's stock worth $48,000 after buying an additional 100 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank Of Canada upped their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 price target for the company. Wells Fargo & Company upped their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an "underweight" rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They issued an "outperform" rating and a $550.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on Trane Technologies from $460.00 to $476.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $506.56.

Trane Technologies Stock Performance

NYSE:TT opened at $460.22 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The stock has a 50-day moving average price of $450.65 and a 200 day moving average price of $429.09. The stock has a market capitalization of $101.73 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.15 and a beta of 1.25.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $4.81 billion. During the same quarter last year, the business posted $2.45 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 14.750-14.950 EPS. Equities research analysts forecast that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date is Friday, June 5th. 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%.

Insiders Place Their Bets

In related news, CAO Elizabeth A. Elwell sold 635 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total transaction of $268,414.50. Following the completion of the sale, the chief accounting officer owned 7,100 shares in the company, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares of the company's stock, valued at $27,259,200. This represents 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. Over the last three months, insiders have sold 53,654 shares of company stock worth $23,269,523. Company insiders own 0.14% of the company's stock.

Trane Technologies Company 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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