Kentucky Retirement Systems Has $5.61 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Kentucky Retirement Systems lessened its position in Trane Technologies plc (NYSE:TT) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,057 shares of the company’s stock after selling 224 shares during the period. Kentucky Retirement Systems’ holdings in Trane Technologies were worth $5,611,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC lifted its position in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after buying an additional 3,866 shares in the last quarter. Nordea Investment Management AB lifted its position in Trane Technologies by 3.0% during the 1st quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after buying an additional 13,078 shares in the last quarter. Sei Investments Co. lifted its position in Trane Technologies by 379.2% during the 1st quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock worth $91,909,000 after buying an additional 242,271 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Trane Technologies during the 4th quarter worth about $3,086,000. Finally, Capital World Investors lifted its position in Trane Technologies by 0.6% during the 4th quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after buying an additional 11,930 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 2.6 %

NYSE:TT opened at $381.30 on Friday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $382.49. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $343.95 and a two-hundred day moving average price of $324.78. The company has a market cap of $86.31 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. As a group, analysts expect that Trane Technologies plc will post 10.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TT. Royal Bank of Canada upped their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Stephens reissued an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Wells Fargo & Company boosted their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. UBS Group boosted their price objective on Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Barclays boosted their price objective on Trane Technologies from $385.00 to $394.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $343.54.

Insider Activity

In other news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by 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.