Brown Advisory Inc. Sells 101,311 Shares of Trane Technologies plc $TT

Brown Advisory Inc. cut its stake in shares of Trane Technologies plc (NYSE:TT) by 24.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 308,917 shares of the company’s stock after selling 101,311 shares during the quarter. Brown Advisory Inc. owned approximately 0.14% of Trane Technologies worth $120,230,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies in the 2nd quarter worth approximately $227,000. Nebula Research & Development LLC lifted its holdings in Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research analyst reports. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. BNP Paribas Exane initiated coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price target on the stock. Sanford C. Bernstein initiated coverage on Trane Technologies in a report on Tuesday. They issued an “outperform” rating and a $550.00 price target on the stock. KeyCorp boosted their price target on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

Trane Technologies Stock Down 0.5%

Shares of TT opened at $457.69 on Friday. The stock has a market capitalization of $101.17 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The business’s 50 day simple moving average is $463.44 and its 200-day simple moving average is $433.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last issued 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. The business had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.45 EPS. As a group, equities analysts expect that Trane Technologies plc will post 14.88 earnings per share for the current fiscal 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 issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

About Trane Technologies

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.