Brighton Jones LLC Has $2.07 Million Stake in Trane Technologies plc (NYSE:TT)

Brighton Jones LLC lowered its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,149 shares of the company’s stock after selling 45 shares during the period. Brighton Jones LLC’s holdings in Trane Technologies were worth $2,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of TT. Vanguard Group Inc. lifted its position in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after buying an additional 152,353 shares during the period. Geode Capital Management LLC raised its stake in Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock worth $1,760,549,000 after acquiring an additional 136,349 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Trane Technologies by 4.1% during the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after acquiring an additional 130,867 shares during the period. Norges Bank acquired a new stake in shares of Trane Technologies in the 4th quarter valued at $1,117,816,000. Finally, Northern Trust Corp grew its holdings in shares of Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after purchasing an additional 429,953 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Down 0.8%

Shares of NYSE:TT opened at $420.84 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market cap of $93.85 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 2.50 and a beta of 1.16. The company has a 50 day moving average of $392.71 and a 200-day moving average of $376.46. Trane Technologies plc has a one year low of $298.15 and a one year high of $436.61.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.25. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 EPS. On average, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies’s dividend payout ratio (DPR) is currently 31.28%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TT. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $415.00 in a report on Friday, April 25th. Wells Fargo & Company boosted their target price on Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Finally, Royal Bank of Canada increased their target price on Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $427.47.

Insider Transactions at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

About Trane Technologies

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.