Teacher Retirement System of Texas Buys 22,695 Shares of Trane Technologies plc $TT

Key Points

• Teacher Retirement System of Texas raised its stake in Trane Technologies by 20.1%, buying 22,695 shares to hold 135,547 shares worth about $52.8 million (≈0.06% of the company).
• Corporate insiders have been net sellers recently — CEO David S. Regnery sold 36,045 shares and insiders disposed of 57,997 shares (~$25.1 million) in the past three months, leaving insiders with 0.14% ownership.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $492.94; the company recently beat quarterly EPS estimates ($2.86 vs. $2.81) and pays a $1.05 quarterly dividend (0.9% yield).

Teacher Retirement System of Texas raised its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,547 shares of the company's stock after acquiring an additional 22,695 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Trane Technologies worth $52,755,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after purchasing an additional 1,433,563 shares during the period. Nordea Investment Management AB raised its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after purchasing an additional 72,998 shares during the period. Bank of America Corp DE raised its stake in shares of Trane Technologies by 9.2% during the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock worth $1,022,278,000 after purchasing an additional 203,766 shares during the period. Legal & General Group Plc raised its stake in shares of Trane Technologies by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after purchasing an additional 44,243 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Trane Technologies by 4.1% during the 3rd quarter. Invesco Ltd. now owns 1,776,055 shares of the company's stock worth $749,424,000 after purchasing an additional 70,172 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TT shares. Morgan Stanley lowered their target price on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 13th. Oppenheimer boosted their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. UBS Group lowered their price objective on Trane Technologies from $544.00 to $520.00 and set a "buy" rating on the stock in a research note on Monday, January 5th. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their price objective on Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $492.94.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 36,045 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares of the company's stock, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth A. Elwell sold 635 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares of the company's stock, valued at approximately $3,001,170. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,997 shares of company stock worth $25,107,014 in the last three months. Corporate insiders own 0.14% of the company's stock.

Trane Technologies Stock Down 0.3%

TT stock opened at $477.44 on Thursday. Trane Technologies plc has a twelve month low of $334.37 and a twelve month high of $487.08. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $105.67 billion, a PE ratio of 36.78, a PEG ratio of 2.52 and a beta of 1.21. The stock has a 50-day simple moving average of $444.77 and a two-hundred day simple moving average of $422.69.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the firm earned $2.61 earnings per share. Trane Technologies's revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that Trane Technologies plc will post 14.76 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 32.36%.

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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