Ontario Teachers Pension Plan Board Has $427.54 Million Holdings in Trane Technologies plc (NYSE:TT)

Ontario Teachers Pension Plan Board trimmed its position in shares of Trane Technologies plc (NYSE:TT) by 19.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,752,947 shares of the company’s stock after selling 415,034 shares during the period. Trane Technologies makes up approximately 4.2% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 10th largest holding. Ontario Teachers Pension Plan Board’s holdings in Trane Technologies were worth $427,544,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter valued at $25,000. Motco purchased a new position in shares of Trane Technologies in the fourth quarter worth $27,000. Sachetta LLC purchased a new position in shares of Trane Technologies in the fourth quarter valued at $27,000. Venturi Wealth Management LLC increased its holdings in shares of Trane Technologies by 139.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after buying an additional 88 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $40,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Trane Technologies news, insider Donald E. Simmons sold 3,763 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.31, for a total transaction of $1,084,910.53. Following the sale, the insider now owns 3,388 shares in the company, valued at approximately $976,794.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares in the company, valued at $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald E. Simmons sold 3,763 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.31, for a total transaction of $1,084,910.53. Following the transaction, the insider now directly owns 3,388 shares in the company, valued at $976,794.28. The disclosure for this sale can be found here. Insiders sold a total of 22,979 shares of company stock worth $6,603,372 over the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TT. Mizuho raised their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Citigroup boosted their target price on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, TD Cowen boosted their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $300.54.

Trane Technologies Stock Performance

Shares of TT stock traded down $2.05 during trading hours on Wednesday, reaching $333.53. 728,156 shares of the company’s stock were exchanged, compared to its average volume of 1,006,437. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $336.37. The company has a market cap of $75.49 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 2.63 and a beta of 1.01. The company’s 50 day moving average is $306.46 and its two-hundred day moving average is $270.12.

Trane Technologies (NYSE:TT) last issued its earnings results on Tuesday, April 30th. The company reported $1.94 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 analyst estimates of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. Equities research analysts anticipate that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, June 7th. This represents a $3.36 dividend on an annualized basis and a yield of 1.01%. Trane Technologies’s payout ratio is 35.90%.

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.