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

Illinois Municipal Retirement Fund grew its stake in Trane Technologies plc (NYSE:TT) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,170 shares of the company’s stock after buying 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 filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

TT has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on shares of Trane Technologies in a research report on Friday, September 25th. They issued an “overweight” rating and a $536.00 price target on the stock. Robert W. Baird increased their price objective on shares of Trane Technologies from $515.00 to $532.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Trane Technologies from $550.00 to $480.00 and set an “overweight” rating for the company in a research report on Wednesday. BNP Paribas Exane lifted their target price on shares of Trane Technologies from $560.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Argus set a $500.00 target price on shares of Trane Technologies in a report on Friday, October 30th. Two research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $532.21.

Insider Activity at Trane Technologies

In other news, CEO David Regnery sold 48,091 shares of Trane Technologies stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total value of $23,083,680.00. Following the completion of the sale, the chief executive officer owned 96,951 shares in the company, valued at $46,536,480. The trade was a 33.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by company insiders.

Trane Technologies Stock Up 0.9%

Shares of Trane Technologies stock opened at $424.68 on Thursday. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.79. The stock’s 50-day moving average is $444.35 and its 200 day moving average is $454.94. The firm has a market cap of $92.96 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.98 and a beta of 1.19.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. Trane Technologies’s dividend payout ratio (DPR) is 29.66%.

Trane Technologies Company Profile

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.