Teachers Retirement System of The State of Kentucky Buys 716 Shares of Trane Technologies plc (NYSE:TT)

Teachers Retirement System of The State of Kentucky grew its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,364 shares of the company's stock after acquiring an additional 716 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Trane Technologies were worth $5,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp boosted its position in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies in the first quarter valued at $31,000. Finally, Bogart Wealth LLC raised its stake in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TT. HSBC upgraded Trane Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $405.00 to $415.00 in a research note on Friday, April 25th. The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. UBS Group upped their target price on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird upped their target price on Trane Technologies from $396.00 to $450.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Hsbc Global Res upgraded Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given 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 $441.40.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider directly owned 3,593 shares in the company, valued at approximately $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. Company insiders own 0.38% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $442.70 on Tuesday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $451.87. The firm has a market cap of $98.73 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 2.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. The business has a fifty day moving average of $429.64 and a 200-day moving average of $383.66.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company posted $1.94 earnings per share. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.85%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Trane Technologies Company 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.

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