Maryland State Retirement & Pension System Acquires 1,650 Shares of Trane Technologies plc $TT

Maryland State Retirement & Pension System grew its stake in shares of Trane Technologies plc (NYSE:TT) by 13.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 13,516 shares of the company’s stock after buying an additional 1,650 shares during the period. Maryland State Retirement & Pension System’s holdings in Trane Technologies were worth $6,109,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wilkerson Advisory Group LLC raised its position in Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Trane Technologies by 153.8% during the second quarter. Elevation Wealth Partners LLC now owns 66 shares of the company’s stock valued at $32,000 after purchasing an additional 40 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Trane Technologies in the 1st quarter valued at approximately $33,000. James T. Borello RIA grew its stake in shares of Trane Technologies by 41.7% in the 3rd quarter. James T. Borello RIA now owns 102 shares of the company’s stock valued at $46,000 after purchasing an additional 30 shares during the period. Finally, MADDEN SECURITIES Corp bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $46,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David Regnery sold 48,091 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer directly owned 96,951 shares of the company’s stock, valued at $46,536,480. This represents a 33.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $424.46 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The firm has a market cap of $92.92 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.12. The business has a fifty day moving average of $444.05 and a 200-day moving average of $455.09.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.12. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.50 billion. Trane Technologies had a net margin of 13.56% and a return on equity of 37.26%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.88 EPS. On average, equities research analysts predict that Trane Technologies plc will post 15.29 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. Trane Technologies’s dividend payout ratio is presently 29.66%.

Analysts Set New Price Targets

Several research firms recently commented on TT. BNP Paribas Exane raised their target price on Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on Trane Technologies from $550.00 to $480.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company initiated coverage on Trane Technologies in a research note on Friday, September 25th. They set an “overweight” rating and a $536.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $500.00 price objective on shares of Trane Technologies in a report on Friday, October 30th. Finally, Mizuho boosted their target price on shares of Trane Technologies from $475.00 to $485.00 and gave the company a “neutral” rating in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $531.22.

Trane Technologies Profile

Trane Technologies plc is a global climate innovator that designs, manufactures, and services heating, ventilation, air conditioning, and refrigeration systems. Its products and services support commercial buildings, homes, and transportation applications, including temperature-controlled shipping. The company’s portfolio includes the Trane brand of HVAC systems and building services, as well as Thermo King equipment for transport refrigeration and climate control. It also offers building controls, energy-efficiency solutions, system maintenance, and related services.