Brown Advisory Inc. Decreases Stock Position in Trane Technologies plc $TT

Brown Advisory Inc. lessened its stake in shares of Trane Technologies plc (NYSE:TT) by 24.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 308,917 shares of the company’s stock after selling 101,311 shares during the period. Brown Advisory Inc.’s holdings in Trane Technologies were worth $120,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tucker Asset Management LLC bought a new position in Trane Technologies in the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies during the 4th quarter worth $32,000. JPL Wealth Management LLC bought a new position in shares of Trane Technologies during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV grew its position in shares of Trane Technologies by 119.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Trane Technologies during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Donald E. Simmons sold 4,593 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of a number of recent research reports. Evercore initiated coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Royal Bank Of Canada increased their price target on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Sanford C. Bernstein began coverage on Trane Technologies in a research report on Tuesday. They set an “outperform” rating and a $550.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. Finally, KeyCorp upped their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Trading Down 0.5%

Shares of NYSE:TT opened at $457.69 on Friday. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The stock has a market cap of $101.17 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.11 and a beta of 1.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $463.44 and a 200-day moving average price of $433.14.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 14.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies’s dividend payout ratio (DPR) is presently 32.48%.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.