Public Employees Retirement Association of Colorado Sells 867 Shares of Trane Technologies plc (NYSE:TT)

Public Employees Retirement Association of Colorado lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,787 shares of the company’s stock after selling 867 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Trane Technologies were worth $10,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TT. GoalVest Advisory LLC raised its position in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the first quarter worth about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies during the first quarter worth about $30,000. Fortitude Family Office LLC raised its position in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after purchasing an additional 43 shares during the period. Finally, Triad Wealth Partners LLC acquired a new stake in Trane Technologies in the 2nd quarter valued at approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $384.93 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $387.71. The stock has a 50 day moving average of $344.77 and a 200-day moving average of $325.74. The company has a market capitalization of $87.13 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.45 and a beta of 1.01.

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

Insider Activity at Trane Technologies

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company lifted their target price on Trane Technologies from $315.00 to $320.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, Stephens reaffirmed an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. 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 data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus target price of $343.54.

About Trane Technologies

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.