Retirement Systems of Alabama Sells 344 Shares of Trane Technologies plc $TT

Retirement Systems of Alabama trimmed its position in Trane Technologies plc (NYSE:TT) by 0.7% in the second quarter, HoldingsChannel reports. The firm owned 47,855 shares of the company’s stock after selling 344 shares during the quarter. Retirement Systems of Alabama’s holdings in Trane Technologies were worth $20,932,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TT. Brighton Jones LLC grew its position in shares of Trane Technologies by 60.0% during the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after acquiring an additional 2,323 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Trane Technologies by 6.9% during the 1st quarter. Ameritas Advisory Services LLC now owns 1,355 shares of the company’s stock valued at $492,000 after acquiring an additional 87 shares during the period. Mather Group LLC. grew its position in shares of Trane Technologies by 16.8% during the 1st quarter. Mather Group LLC. now owns 1,089 shares of the company’s stock valued at $367,000 after acquiring an additional 157 shares during the period. Rossby Financial LCC bought a new position in shares of Trane Technologies during the 1st quarter valued at approximately $125,000. Finally, Private Trust Co. NA grew its position in shares of Trane Technologies by 22.0% during the 1st quarter. Private Trust Co. NA now owns 942 shares of the company’s stock valued at $317,000 after acquiring an additional 170 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Performance

NYSE TT opened at $448.95 on Friday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The stock has a market capitalization of $99.90 billion, a PE ratio of 35.60, a P/E/G ratio of 2.66 and a beta of 1.12. The company’s 50 day simple moving average is $417.33 and its two-hundred day simple moving average is $418.41.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the company posted $3.37 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.94 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.76 annualized dividend and a yield of 0.8%. Trane Technologies’s dividend payout ratio is currently 28.92%.

Analysts Set New Price Targets

TT has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. UBS Group increased their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company upped their price target on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research note on Monday, October 6th. Finally, HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and upped their price target for the company from $415.00 to $460.00 in a research note on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Hold” and an average price target of $466.50.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares in the company, valued at $50,722,330. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the sale, the chief accounting officer owned 7,148 shares in the company, valued at $3,145,120. This represents a 7.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.14% of the company’s stock.

Trane Technologies Company 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.