Brown Miller Wealth Management LLC Purchases 2,183 Shares of Trane Technologies plc $TT

Brown Miller Wealth Management LLC lifted its holdings in Trane Technologies plc (NYSE:TT) by 188.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,340 shares of the company’s stock after buying an additional 2,183 shares during the period. Brown Miller Wealth Management LLC’s holdings in Trane Technologies were worth $1,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. Brighton Jones LLC grew its stake in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after purchasing an additional 2,323 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Trane Technologies by 22.4% during 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 during the period. Schnieders Capital Management LLC. bought a new stake in shares of Trane Technologies during the 2nd quarter worth $227,000. Nebula Research & Development LLC boosted its holdings in shares of 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 buying an additional 1,518 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of 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 buying an additional 497 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TT. Citigroup raised their price objective on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Sanford C. Bernstein started coverage on shares of Trane Technologies in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 target price on the stock. Evercore assumed coverage on shares of Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. Barclays raised their price target on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Stock Performance

Shares of TT opened at $479.41 on Tuesday. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $505.87. The stock’s 50-day simple moving average is $470.26 and its 200 day simple moving average is $438.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The stock has a market capitalization of $105.97 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the business posted $2.45 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is 32.48%.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the transaction, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

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.