Retirement Systems of Alabama Sells 271 Shares of Trane Technologies plc (NYSE:TT)

Retirement Systems of Alabama reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,660 shares of the company’s stock after selling 271 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $19,304,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the third quarter worth about $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies in the 3rd quarter valued at approximately $39,000. Legacy Investment Solutions LLC acquired a new stake in Trane Technologies in the third quarter valued at approximately $44,000. Finally, Quarry LP acquired a new stake in Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $399.36 on Friday. The company has a market capitalization of $89.87 billion, a PE ratio of 37.05, a P/E/G ratio of 2.43 and a beta of 1.03. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a twelve month low of $233.76 and a twelve month high of $422.00. The firm has a fifty day simple moving average of $402.05 and a 200 day simple moving average of $364.54.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company posted $2.79 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Hsbc Global Res downgraded Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $409.93.

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.