Trane Technologies plc (NYSE:TT) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,273 shares of the company's stock after acquiring an additional 625 shares during the period. State of Alaska Department of Revenue's holdings in Trane Technologies were worth $8,851,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TT. WFA Asset Management Corp increased its position in Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Trane Technologies in the 1st quarter worth $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Trane Technologies in the fourth quarter valued at $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a research report on Thursday, May 1st. Robert W. Baird boosted their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the stock from $405.00 to $415.00 in a research report on Friday, April 25th. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Citigroup increased their price objective on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $427.47.

Trane Technologies Stock Down 0.6%

Shares of TT stock traded down $2.32 on Thursday, hitting $419.63. The stock had a trading volume of 1,708,536 shares, compared to its average volume of 1,346,963. The stock's 50 day moving average is $398.05 and its 200-day moving average is $377.14. The firm has a market capitalization of $93.59 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 2.77 and a beta of 1.16. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $436.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

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 analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The company had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the company posted $1.94 EPS. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.90%. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insiders Place Their Bets

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

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.