Trane Technologies plc (NYSE:TT) is Ontario Teachers Pension Plan Board's 10th Largest Position

Ontario Teachers Pension Plan Board decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,752,947 shares of the company's stock after selling 415,034 shares during the quarter. Trane Technologies accounts for 4.2% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 10th largest position. Ontario Teachers Pension Plan Board owned about 0.77% of Trane Technologies worth $427,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Trane Technologies during the 4th quarter valued at about $655,804,000. International Assets Investment Management LLC increased its stake in shares of Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company's stock valued at $252,296,000 after buying an additional 1,030,247 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company's stock valued at $3,466,852,000 after acquiring an additional 880,583 shares in the last quarter. FMR LLC lifted its stake in Trane Technologies by 12.4% in the third quarter. FMR LLC now owns 5,743,154 shares of the company's stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company's stock valued at $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, EVP Paul A. Camuti sold 5,643 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the completion of the transaction, the executive vice president now directly owns 88,770 shares of the company's stock, valued at approximately $25,592,391. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares of the company's stock, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Camuti sold 5,643 shares of Trane Technologies stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the completion of the transaction, the executive vice president now directly owns 88,770 shares of the company's stock, valued at approximately $25,592,391. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,979 shares of company stock worth $6,603,372. 0.39% of the stock is currently owned by insiders.

Trane Technologies Stock Down 0.6 %

Shares of NYSE TT traded down $2.05 during midday trading on Wednesday, reaching $333.53. 728,110 shares of the company's stock traded hands, compared to its average volume of 1,006,438. The company has a market cap of $75.49 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 2.63 and a beta of 1.01. The stock's 50 day simple moving average is $307.42 and its 200-day simple moving average is $270.56. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. Trane Technologies plc has a one year low of $162.04 and a one year high of $336.37.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business had revenue of $4.22 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 dividend on an annualized basis and a yield of 1.01%. Trane Technologies's dividend payout ratio is currently 35.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Trane Technologies from $287.00 to $326.00 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Mizuho increased their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 1st. Citigroup boosted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a "buy" rating in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Trane Technologies presently has a consensus rating of "Hold" and a consensus target price of $300.54.

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.