State of Michigan Retirement System Increases Stock Position in Trane Technologies plc (NYSE:TT)

State of Michigan Retirement System grew its position in shares of Trane Technologies plc (NYSE:TT) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,513 shares of the company’s stock after acquiring an additional 3,100 shares during the period. State of Michigan Retirement System’s holdings in Trane Technologies were worth $23,828,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global Wealth Strategies & Associates bought a new position in shares of Trane Technologies during the fourth quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the 3rd quarter valued at $27,000. Sound Income Strategies LLC raised its holdings in Trane Technologies by 1,314.3% in the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies in the 3rd quarter worth about $39,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the sale, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last 90 days. Company insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 1.0 %

TT stock opened at $342.70 on Wednesday. The stock has a market capitalization of $76.86 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 1-year low of $279.00 and a 1-year high of $422.00. The business has a fifty day moving average price of $369.87 and a 200-day moving average price of $380.69.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

Analyst Upgrades and Downgrades

TT has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, Northcoast Research began coverage on shares of Trane Technologies in a research note on Friday, November 22nd. They issued a “buy” rating and a $500.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $415.25.

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.