Illinois Municipal Retirement Fund Buys 3,793 Shares of Trane Technologies plc $TT

Illinois Municipal Retirement Fund lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 13.9% during the third quarter, Holdings Channel.com reports. The firm owned 31,170 shares of the company’s stock after acquiring an additional 3,793 shares during the period. Illinois Municipal Retirement Fund’s holdings in Trane Technologies were worth $14,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi grew its stake in shares of Trane Technologies by 47.8% in the 1st quarter. Amundi now owns 2,174,396 shares of the company’s stock valued at $906,158,000 after buying an additional 703,018 shares during the period. Janus Henderson Group PLC raised its stake in Trane Technologies by 10.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,878,018 shares of the company’s stock worth $782,707,000 after buying an additional 180,537 shares during the period. Dimensional Fund Advisors LP raised its stake in Trane Technologies by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,241 shares of the company’s stock worth $431,347,000 after buying an additional 32,286 shares during the period. Ninety One UK Ltd boosted its holdings in Trane Technologies by 0.4% in the third quarter. Ninety One UK Ltd now owns 926,668 shares of the company’s stock worth $418,835,000 after acquiring an additional 3,624 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Trane Technologies by 51.9% in the first quarter. California Public Employees Retirement System now owns 686,691 shares of the company’s stock worth $286,172,000 after acquiring an additional 234,666 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Trane Technologies news, CEO David Regnery sold 48,091 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the transaction, the chief executive officer directly owned 96,951 shares in the company, valued at approximately $46,536,480. This trade represents a 33.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 TT opened at $424.68 on Thursday. 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 stock has a 50 day moving average price of $444.35 and a two-hundred day moving average price of $454.94. The firm has a market capitalization of $92.96 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.98 and a beta of 1.19. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, October 29th. The company reported $4.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.12. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.50 billion. Trane Technologies had a return on equity of 37.26% and a net margin of 13.56%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $3.88 earnings per share. Equities analysts forecast that Trane Technologies plc will post 15.29 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Wall Street Analyst Weigh In

TT has been the subject of several research reports. The Goldman Sachs Group raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $548.00 to $565.00 in a research report on Wednesday, October 14th. Wells Fargo & Company began coverage on shares of Trane Technologies in a research note on Friday, September 25th. They set an “overweight” rating and a $536.00 price target for the company. Citigroup lowered their price objective on shares of Trane Technologies from $566.00 to $549.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Argus set a $500.00 price objective on shares of Trane Technologies in a research note on Friday, October 30th. Finally, Evercore lifted their price objective on shares of Trane Technologies from $560.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $532.21.

About Trane Technologies

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.