Trane Technologies plc $TT Stock Holdings Trimmed by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of Trane Technologies plc (NYSE:TT) by 3.2% in the first quarter, HoldingsChannel reports. The fund owned 340,305 shares of the company’s stock after selling 11,324 shares during the period. California State Teachers Retirement System’s holdings in Trane Technologies were worth $141,819,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TT. Empowered Funds LLC grew its position in Trane Technologies by 18.7% in the 1st quarter. Empowered Funds LLC now owns 18,399 shares of the company’s stock valued at $7,668,000 after buying an additional 2,899 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Trane Technologies by 3.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 251,663 shares of the company’s stock worth $104,874,000 after buying an additional 9,466 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Trane Technologies by 40.7% during the 1st quarter. Quantinno Capital Management LP now owns 95,102 shares of the company’s stock worth $39,633,000 after buying an additional 27,524 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in shares of Trane Technologies in the 1st quarter worth approximately $9,902,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Trane Technologies by 11.9% in the 1st quarter. Lazard Asset Management LLC now owns 648,093 shares of the company’s stock worth $270,086,000 after acquiring an additional 68,737 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.9%

NYSE:TT opened at $446.90 on Thursday. The business’s fifty day moving average price is $470.96 and its 200 day moving average price is $452.15. The firm has a market capitalization of $98.79 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.16 and a beta of 1.19. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company posted $2.45 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Trane Technologies plc will post 14.89 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 Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is currently 32.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TT shares. BNP Paribas Exane began coverage on shares of Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Royal Bank Of Canada upped their target price on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays increased their price target on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Friday, July 17th. Finally, KeyCorp boosted their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $516.67.

About Trane Technologies

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.