State of Alaska Department of Revenue Cuts Holdings in Trane Technologies plc (NYSE:TT)

State of Alaska Department of Revenue cut its stake in Trane Technologies plc (NYSE:TT) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,440 shares of the company’s stock after selling 4,470 shares during the period. State of Alaska Department of Revenue’s holdings in Trane Technologies were worth $11,239,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Monument Capital Management bought a new position in shares of Trane Technologies during the 1st quarter valued at $238,000. Azzad Asset Management Inc. ADV increased its stake in Trane Technologies by 0.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,294 shares of the company’s stock worth $1,889,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Trane Technologies during the first quarter valued at approximately $27,000. tru Independence LLC bought a new stake in Trane Technologies during the 1st quarter valued at $246,000. Finally, Little House Capital LLC grew its holdings in Trane Technologies by 8.6% in the 1st quarter. Little House Capital LLC now owns 3,034 shares of the company’s stock worth $911,000 after acquiring an additional 241 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stephens raised their price objective on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $309.79.

Trane Technologies Price Performance

TT opened at $330.86 on Thursday. The company’s 50-day simple moving average is $327.14 and its two-hundred day simple moving average is $291.89. Trane Technologies plc has a 52-week low of $184.02 and a 52-week high of $345.46. The stock has a market capitalization of $74.89 billion, a P/E ratio of 35.35, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. As a group, analysts predict that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated 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 owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 of the company’s stock, valued at $6,669,545.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Company 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.