Kentucky Retirement Systems Insurance Trust Fund Sells 627 Shares of Trane Technologies plc (NYSE:TT)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Trane Technologies plc (NYSE:TT) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,510 shares of the company’s stock after selling 627 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Trane Technologies were worth $2,255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TT. Center for Financial Planning Inc. boosted its position in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares during the period. Keel Point LLC grew its position in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Trane Technologies by 2.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after purchasing an additional 39 shares during the period. Level Four Advisory Services LLC raised its position in shares of Trane Technologies by 1.5% in the fourth quarter. Level Four Advisory Services LLC now owns 2,757 shares of the company’s stock valued at $672,000 after buying an additional 42 shares in the last quarter. Finally, Cedrus LLC boosted its stake in shares of Trane Technologies by 2.6% in the fourth quarter. Cedrus LLC now owns 1,669 shares of the company’s stock valued at $407,000 after buying an additional 43 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TT shares. UBS Group lifted their price objective on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Wells Fargo & Company boosted their price target on Trane Technologies from $295.00 to $310.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. TD Cowen increased their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Citigroup raised their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $312.36.

Trane Technologies Price Performance

Shares of TT traded up $7.49 during trading hours on Friday, reaching $329.71. The stock had a trading volume of 1,232,284 shares, compared to its average volume of 1,436,565. The stock has a market capitalization of $74.63 billion, a PE ratio of 35.23, a PEG ratio of 2.55 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $347.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The company’s 50-day moving average is $332.14 and its two-hundred day moving average is $303.06.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. Research analysts expect that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Insider Activity

In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.