Texas Permanent School Fund Has $4.63 Million Stock Position in Trane Technologies plc (NYSE:TT)

Texas Permanent School Fund lowered its stake in Trane Technologies plc (NYSE:TTGet Rating) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,292 shares of the company’s stock after selling 2,472 shares during the period. Texas Permanent School Fund’s holdings in Trane Technologies were worth $4,626,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TT. Norges Bank acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $578,209,000. Capital World Investors acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $340,147,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Trane Technologies in the first quarter valued at approximately $210,269,000. JPMorgan Chase & Co. boosted its position in Trane Technologies by 7.1% in the fourth quarter. JPMorgan Chase & Co. now owns 17,594,499 shares of the company’s stock valued at $3,554,616,000 after buying an additional 1,173,662 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Trane Technologies by 3.4% during the fourth quarter. State Street Corp now owns 10,764,373 shares of the company’s stock worth $2,174,726,000 after purchasing an additional 351,926 shares during the period. Institutional investors and hedge funds own 80.55% of the company’s stock.

Trane Technologies Trading Down 0.3 %

NYSE:TT opened at $154.34 on Friday. The firm has a 50-day moving average of $134.28 and a 200-day moving average of $145.21. The company has a market cap of $36.09 billion, a PE ratio of 24.65, a PEG ratio of 1.89 and a beta of 1.04. Trane Technologies plc has a one year low of $120.64 and a one year high of $204.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.09 and a quick ratio of 0.91.

Trane Technologies (NYSE:TTGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.06. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a net margin of 10.06% and a return on equity of 25.03%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 EPS. As a group, equities research analysts expect that Trane Technologies plc will post 7.08 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, September 1st. Trane Technologies’s dividend payout ratio is currently 42.81%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday. Cowen upgraded shares of Trane Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Friday, July 8th. Jefferies Financial Group cut their price target on shares of Trane Technologies from $160.00 to $140.00 in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Trane Technologies from $162.00 to $146.00 and set a “hold” rating on the stock in a report on Wednesday, July 13th. Finally, Mizuho boosted their target price on shares of Trane Technologies from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $170.13.

Trane Technologies Company Profile

(Get Rating)

Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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