Brookstone Capital Management Trims Position in Trane Technologies plc (NYSE:TT)

Brookstone Capital Management trimmed its holdings in Trane Technologies plc (NYSE:TT) by 2.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,607 shares of the company’s stock after selling 32 shares during the quarter. Brookstone Capital Management’s holdings in Trane Technologies were worth $539,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Trane Technologies during the fourth quarter worth about $655,804,000. Swedbank AB acquired a new position in shares of Trane Technologies during the first quarter worth about $206,211,000. TD Asset Management Inc increased its stake in shares of Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock worth $183,143,000 after acquiring an additional 659,299 shares during the period. Putnam Investments LLC increased its stake in shares of Trane Technologies by 27,824.4% during the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after acquiring an additional 570,679 shares during the period. Finally, Kodai Capital Management LP acquired a new position in shares of Trane Technologies during the fourth quarter worth about $77,615,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Stock Up 1.7 %

Shares of NYSE TT opened at $346.99 on Tuesday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $351.41. The company has a market capitalization of $78.54 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.74. The firm’s 50-day moving average is $333.82 and its two-hundred day moving average is $312.62.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, September 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upped their target price on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Mizuho upped their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, UBS Group upped their target price on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $323.29.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the company’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 transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David S. Regnery sold 29,450 shares of the company’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 transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,243 shares of company stock valued at $14,216,550. Company 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.