New York State Common Retirement Fund Sells 87,683 Shares of Trane Technologies plc (NYSE:TT)

New York State Common Retirement Fund trimmed its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 456,905 shares of the company's stock after selling 87,683 shares during the period. New York State Common Retirement Fund owned about 0.20% of Trane Technologies worth $111,439,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TT. SC&H Financial Advisors Inc. bought a new position in shares of Trane Technologies during the fourth quarter worth approximately $215,000. Jennison Associates LLC boosted its position in shares of Trane Technologies by 4.0% during the 4th quarter. Jennison Associates LLC now owns 4,752 shares of the company's stock worth $1,159,000 after acquiring an additional 181 shares in the last quarter. CWM LLC boosted its position in Trane Technologies by 19.2% in the fourth quarter. CWM LLC now owns 5,546 shares of the company's stock valued at $1,353,000 after buying an additional 893 shares in the last quarter. Signaturefd LLC boosted its position in Trane Technologies by 25.3% in the fourth quarter. Signaturefd LLC now owns 6,700 shares of the company's stock valued at $1,634,000 after buying an additional 1,354 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Trane Technologies by 9.4% in the fourth quarter. Lindbrook Capital LLC now owns 2,315 shares of the company's stock valued at $565,000 after buying an additional 198 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Trading Up 1.4 %

Shares of Trane Technologies stock traded up $3.94 during trading on Tuesday, reaching $295.09. The company's stock had a trading volume of 1,031,855 shares, compared to its average volume of 995,411. The company has a market cap of $67.01 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.43 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm's 50-day moving average is $290.05 and its two-hundred day moving average is $252.29. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.2 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.14%. Trane Technologies's dividend payout ratio (DPR) is currently 38.23%.

Insiders Place Their Bets

In other news, SVP Keith A. Sultana sold 1,637 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now directly owns 42,374 shares of the company's stock, valued at $11,345,214.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Keith A. Sultana sold 1,637 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the sale, the senior vice president now directly owns 42,374 shares in the company, valued at $11,345,214.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keith A. Sultana sold 1,983 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now owns 42,575 shares of the company's stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. Finally, Stephens boosted their target price on shares of Trane Technologies from $235.00 to $280.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Trane Technologies currently has an average rating of "Hold" and an average price target of $251.83.

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.