State of Wyoming Sells 1,310 Shares of Trane Technologies plc $TT

State of Wyoming cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 66.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658 shares of the company’s stock after selling 1,310 shares during the period. State of Wyoming’s holdings in Trane Technologies were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Trane Technologies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock worth $7,791,909,000 after buying an additional 192,270 shares during the period. JPMorgan Chase & Co. boosted its position in Trane Technologies by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock worth $6,550,975,000 after buying an additional 1,433,563 shares during the period. Geode Capital Management LLC boosted its position in Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock worth $1,964,896,000 after buying an additional 14,179 shares during the period. Norges Bank acquired a new stake in Trane Technologies during the 4th quarter worth approximately $1,163,124,000. Finally, Nordea Investment Management AB boosted its position in Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Stock Down 4.4%

Shares of NYSE TT opened at $449.96 on Thursday. The company has a market capitalization of $99.46 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company’s 50 day moving average price is $462.00 and its 200-day moving average price is $432.62.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.45 EPS. Equities analysts forecast that Trane Technologies plc will post 14.88 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s payout ratio is presently 32.48%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. The trade was a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the transaction, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TT has been the topic of several recent research reports. KeyCorp lifted their target price on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays lifted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Citigroup lifted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $509.12.

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.