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

New York State Common Retirement Fund trimmed its position in Trane Technologies plc (NYSE:TT) by 16.1% during the fourth quarter, Holdings Channel reports. The firm owned 456,905 shares of the company’s stock after selling 87,683 shares during the quarter. New York State Common Retirement Fund’s holdings in Trane Technologies were worth $111,439,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its position in shares of Trane Technologies by 139.7% in the third quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after buying an additional 65 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Trane Technologies during the 3rd quarter worth about $40,000. Finally, Rosenberg Matthew Hamilton grew its stake in Trane Technologies by 27.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock valued at $47,000 after buying an additional 41 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TT shares. Barclays boosted their price objective on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Citigroup upped their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada increased their price objective on Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Stephens upped their price target 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $251.83.

Insider Buying and Selling at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the transaction, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE TT traded up $3.95 during midday trading on Tuesday, reaching $295.10. 215,367 shares of the company were exchanged, compared to its average volume of 984,714. The stock has a market cap of $67.01 billion, a P/E ratio of 33.34, a PEG ratio of 2.43 and a beta of 1.05. The stock’s 50-day moving average price is $290.05 and its 200-day moving average price is $252.29. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a one year low of $162.04 and a one year high of $306.98.

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

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 38.23%.

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.