Brookstone Capital Management Lowers Stock Holdings in Trane Technologies plc (NYSE:TT)

Brookstone Capital Management lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 4.9% during the first quarter, HoldingsChannel.com reports. The firm owned 1,639 shares of the company’s stock after selling 85 shares during the period. Brookstone Capital Management’s holdings in Trane Technologies were worth $492,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter worth approximately $25,000. Motco purchased a new position in Trane Technologies during the fourth quarter worth approximately $27,000. Sachetta LLC purchased a new position in Trane Technologies during the fourth quarter worth approximately $27,000. Ancora Advisors LLC purchased a new position in shares of Trane Technologies in the third quarter valued at approximately $40,000. Finally, Gables Capital Management Inc. lifted its position in shares of Trane Technologies by 68.2% in the fourth quarter. Gables Capital Management Inc. now owns 185 shares of the company’s stock valued at $45,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TT shares. UBS Group raised 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. Barclays raised their target price on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. 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 report on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird lifted their price objective on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $309.79.

Trane Technologies Trading Down 1.4 %

Shares of NYSE TT opened at $328.93 on Monday. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $325.25 and a 200-day simple moving average of $290.43. The stock has a market capitalization of $74.45 billion, a PE ratio of 35.14, a PEG ratio of 2.61 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts forecast that Trane Technologies plc will post 10.48 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Insider Activity

In related news, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction on 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated 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 approximately $6,669,545.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,274,680.00. Following the sale, the chief financial officer now directly owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies 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.