New York State Common Retirement Fund Raises Stake in Trane Technologies plc (NYSE:TT)

New York State Common Retirement Fund increased its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,845 shares of the company's stock after acquiring an additional 8,416 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Trane Technologies worth $125,956,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Trane Technologies in the 4th quarter valued at $1,117,816,000. GAMMA Investing LLC boosted its holdings in Trane Technologies by 35,458.2% during the first quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock worth $679,161,000 after buying an additional 2,010,123 shares in the last quarter. Northern Trust Corp lifted its holdings in Trane Technologies by 20.1% during the fourth quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock valued at $948,316,000 after purchasing an additional 429,953 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Trane Technologies during the fourth quarter valued at $147,251,000. Finally, BNP Paribas Financial Markets purchased a new position in Trane Technologies during the fourth quarter valued at $137,999,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Up 0.7%

Shares of TT traded up $2.86 during trading on Friday, reaching $437.39. 944,543 shares of the company traded hands, compared to its average volume of 1,335,774. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $438.95. The stock has a market cap of $97.55 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.15. The stock has a 50-day simple moving average of $425.99 and a 200-day simple moving average of $381.18. The company has a quick ratio of 0.74, a current ratio of 1.09 and a debt-to-equity ratio of 0.52.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data 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 net margin of 13.47% and a return on equity of 36.10%. The business 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 earnings per share. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts anticipate 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. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 31.28%.

Insider Activity at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction that occurred on 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 owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. HSBC upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Barclays increased their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup increased their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the company a "buy" rating 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Trane Technologies has an average rating of "Moderate Buy" and an average target price of $434.00.

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.