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

Brookstone Capital Management decreased its stake in Trane Technologies plc (NYSE:TT) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,493 shares of the company’s stock after selling 114 shares during the quarter. Brookstone Capital Management’s holdings in Trane Technologies were worth $551,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new stake in Trane Technologies during the 2nd quarter worth $225,000. Mercer Global Advisors Inc. ADV boosted its position in Trane Technologies by 4.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 42,537 shares of the company’s stock worth $13,233,000 after acquiring an additional 1,946 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Trane Technologies by 5.0% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,630 shares of the company’s stock valued at $1,194,000 after acquiring an additional 172 shares in the last quarter. Inspire Investing LLC acquired a new stake in Trane Technologies in the 2nd quarter valued at about $767,000. Finally, Intech Investment Management LLC lifted its stake in Trane Technologies by 3.4% in the 2nd quarter. Intech Investment Management LLC now owns 34,805 shares of the company’s stock worth $11,448,000 after purchasing an additional 1,139 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TT shares. HSBC lowered Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a research report on Thursday, October 31st. Mizuho upped their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird cut their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.64.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of TT opened at $389.48 on Friday. The firm has a 50-day simple moving average of $396.21 and a two-hundred day simple moving average of $372.70. The stock has a market cap of $87.64 billion, a PE ratio of 36.13, a P/E/G ratio of 1.95 and a beta of 1.06. Trane Technologies plc has a 1-year low of $244.11 and a 1-year high of $422.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm earned $2.79 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that Trane Technologies plc will post 11.13 EPS for the current year.

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.