Brown Miller Wealth Management LLC Has $1.39 Million Stock Holdings in Trane Technologies plc $TT

Key Points

• Brown Miller Wealth Management boosted its Trane Technologies stake by 188.7% in Q1, ending with 3,340 shares worth about $1.39 million.
• Trane Technologies reported better-than-expected Q1 earnings, posting $2.63 per share on $4.97 billion in revenue, with revenue up 6% year over year.
• The company announced a quarterly dividend of $1.05 per share and has received broadly positive analyst coverage, with a consensus rating of Moderate Buy and an average price target of $509.12.

Brown Miller Wealth Management LLC increased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 188.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,340 shares of the company's stock after purchasing 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company's stock valued at $7,791,909,000 after buying an additional 192,270 shares during the period. State Street Corp grew its position in shares of Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company's stock worth $3,936,034,000 after buying an additional 61,393 shares during the period. Geode Capital Management LLC grew its position in shares of Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company's stock worth $1,964,896,000 after buying an additional 14,179 shares during the period. Norges Bank bought a new stake in shares of Trane Technologies in the 4th quarter valued at $1,163,124,000. Finally, Nordea Investment Management AB lifted its position in shares of Trane Technologies by 2.9% during the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock valued at $1,010,419,000 after acquiring an additional 72,998 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

NYSE TT opened at $479.41 on Tuesday. The company has a market cap of $105.97 billion, a P/E ratio of 37.08, a PEG ratio of 2.20 and a beta of 1.20. The company has a fifty day simple moving average of $470.26 and a 200 day simple moving average of $438.84. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $505.87.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The business's revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that Trane Technologies plc will post 14.88 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm 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 $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. Trane Technologies's dividend payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TT. Weiss Ratings reissued a "buy (b)" rating on shares of Trane Technologies in a research note on Monday, April 20th. Citigroup lifted their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. BNP Paribas Exane started coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price objective on the stock. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $509.12.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 8,619 shares of the firm's stock in a transaction dated 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 trade represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Trane Technologies stock in a transaction dated 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 transaction, the insider owned 3,819 shares of the company's stock, 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. 0.43% of the stock is currently owned by company insiders.

Trane Technologies 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.

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