Public Employees Retirement System of Ohio Has $36.68 Million Position in Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio lowered its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,314 shares of the company's stock after selling 4,920 shares during the period. Public Employees Retirement System of Ohio's holdings in Trane Technologies were worth $36,682,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $468,000. Stonegate Investment Group LLC grew its stake in shares of Trane Technologies by 11.9% during the fourth quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company's stock valued at $5,680,000 after acquiring an additional 1,633 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Trane Technologies by 1,490.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company's stock valued at $7,172,000 after acquiring an additional 18,196 shares in the last quarter. Longboard Asset Management LP acquired a new stake in Trane Technologies in the fourth quarter valued at $257,000. Finally, Consolidated Planning Corp raised its holdings in Trane Technologies by 8.3% in the fourth quarter. Consolidated Planning Corp now owns 14,252 shares of the company's stock valued at $5,264,000 after acquiring an additional 1,091 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Price Performance

Trane Technologies stock traded up $12.99 during trading hours on Tuesday, hitting $436.28. 1,347,874 shares of the company traded hands, compared to its average volume of 1,354,756. The firm has a market cap of $97.30 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The firm's 50-day simple moving average is $367.75 and its two-hundred day simple moving average is $374.96. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $457.11.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the firm posted $1.94 EPS. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is 31.28%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Stephens raised 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $427.47.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company's stock.

Trane Technologies Profile

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.