Public Employees Retirement System of Ohio Sells 4,920 Shares of Trane Technologies plc (NYSE:TT)

Public Employees Retirement System of Ohio trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Secured Retirement Advisors LLC lifted its position in shares of Trane Technologies by 0.6% during the 4th quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after acquiring an additional 28 shares during the period. Catalina Capital Group LLC raised its stake in Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock valued at $341,000 after purchasing an additional 29 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock worth $2,046,000 after purchasing an additional 29 shares during the period. Kanawha Capital Management LLC grew its stake in Trane Technologies by 0.6% during the fourth quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock worth $1,740,000 after buying an additional 29 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Trane Technologies by 0.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,173 shares of the company's stock valued at $3,388,000 after buying an additional 30 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the business's stock in a transaction that occurred 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 directly owns 3,593 shares of the company's stock, valued at approximately $1,365,340. The trade was a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TT. Barclays cut their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Robert W. Baird raised their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. UBS Group boosted their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Trading Down 0.2%

NYSE TT traded down $0.77 during trading hours on Thursday, hitting $432.17. 282,570 shares of the company's stock were exchanged, compared to its average volume of 1,350,233. The firm has a market cap of $96.38 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 2.50 and a beta of 1.14. The stock has a 50-day simple moving average of $371.20 and a 200 day simple moving average of $375.78. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $447.61.

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

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's payout ratio is currently 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.