State of New Jersey Common Pension Fund D Purchases 2,510 Shares of Trane Technologies plc $TT

State of New Jersey Common Pension Fund D grew its position in Trane Technologies plc (NYSE:TT) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,545 shares of the company’s stock after purchasing an additional 2,510 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Trane Technologies were worth $32,721,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. King Luther Capital Management Corp boosted its position in Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after acquiring an additional 24 shares during the last quarter. Old Port Advisors lifted its stake in shares of Trane Technologies by 3.2% in the 3rd quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the period. OneAscent Wealth Management LLC boosted its position in shares of Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock valued at $686,000 after purchasing an additional 24 shares in the last quarter. Busey Bank grew its stake in Trane Technologies by 3.0% during the third quarter. Busey Bank now owns 871 shares of the company’s stock worth $368,000 after purchasing an additional 25 shares during the period. Finally, Mather Group LLC. increased its holdings in Trane Technologies by 2.7% in the third quarter. Mather Group LLC. now owns 966 shares of the company’s stock worth $408,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $465.04 on Monday. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $479.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. The company has a market capitalization of $102.93 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.45 and a beta of 1.21. The firm’s fifty day moving average price is $403.90 and its two-hundred day moving average price is $414.32.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the company earned $2.61 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a $1.05 dividend. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 6th. Trane Technologies’s dividend payout ratio is currently 28.97%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 2,389 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $462.70, for a total transaction of $1,105,390.30. Following the completion of the transaction, the chief financial officer owned 60,486 shares in the company, valued at approximately $27,986,872.20. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald E. Simmons sold 822 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $462.57, for a total transaction of $380,232.54. Following the sale, the insider owned 3,819 shares of the company’s stock, valued at $1,766,554.83. This trade represents a 17.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,936 shares of company stock valued at $4,133,991. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TT shares. Royal Bank Of Canada increased their price target on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Wednesday, January 21st. UBS Group reduced their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Wells Fargo & Company increased their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. Finally, Citigroup raised their target price on Trane Technologies from $513.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.