California Public Employees Retirement System Sells 6,212 Shares of Trane Technologies plc (NYSE:TT)

California Public Employees Retirement System decreased its position in Trane Technologies plc (NYSE:TT) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,666 shares of the company’s stock after selling 6,212 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Trane Technologies worth $99,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Trane Technologies by 16.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,360,476 shares of the company’s stock worth $225,241,000 after buying an additional 190,977 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Trane Technologies in the 1st quarter worth about $423,000. Cresset Asset Management LLC boosted its holdings in shares of Trane Technologies by 46.2% in the 1st quarter. Cresset Asset Management LLC now owns 2,282 shares of the company’s stock worth $378,000 after buying an additional 721 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trane Technologies by 6.3% in the 1st quarter. Geode Capital Management LLC now owns 4,307,201 shares of the company’s stock worth $711,294,000 after buying an additional 255,568 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Trane Technologies by 6.6% in the 1st quarter. Cerity Partners LLC now owns 17,732 shares of the company’s stock worth $2,936,000 after buying an additional 1,096 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Shares of Trane Technologies stock opened at $170.63 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $187.80 and its 200-day moving average price is $184.16. The company has a market cap of $40.54 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.45 and a beta of 0.92. Trane Technologies plc has a 12-month low of $123.08 and a 12-month high of $207.06.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.02. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Trane Technologies had a net margin of 9.95% and a return on equity of 21.64%. Trane Technologies’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. On average, sell-side analysts predict that Trane Technologies plc will post 6.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Friday, December 3rd will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Thursday, December 2nd. Trane Technologies’s dividend payout ratio (DPR) is 52.91%.

In other Trane Technologies news, EVP Raymond D. Pittard sold 4,256 shares of the stock in a transaction that occurred on Wednesday, August 4th. The shares were sold at an average price of $200.06, for a total transaction of $851,455.36. Following the transaction, the executive vice president now directly owns 82,954 shares in the company, valued at $16,595,777.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael W. Lamach sold 126,724 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $197.45, for a total transaction of $25,021,653.80. Following the transaction, the insider now owns 257,340 shares in the company, valued at $50,811,783. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Trane Technologies from $184.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, July 14th. Credit Suisse Group upped their price objective on shares of Trane Technologies from $196.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Wells Fargo & Company assumed coverage on shares of Trane Technologies in a report on Thursday, October 7th. They set an “underweight” rating and a $163.00 price objective on the stock. Argus upped their price objective on shares of Trane Technologies from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Finally, JPMorgan Chase & Co. downgraded shares of Trane Technologies from a “neutral” rating to an “underweight” rating and set a $160.00 price objective on the stock. in a report on Monday, August 9th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $184.50.

Trane Technologies Company Profile

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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