Brighton Jones LLC Has $2.29 Million Position in Trane Technologies plc (NYSE:TT)

Brighton Jones LLC grew its position in shares of Trane Technologies plc (NYSE:TT) by 60.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,194 shares of the company’s stock after purchasing an additional 2,323 shares during the period. Brighton Jones LLC’s holdings in Trane Technologies were worth $2,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. Montecito Bank & Trust grew its stake in shares of Trane Technologies by 7.4% in the fourth quarter. Montecito Bank & Trust now owns 8,663 shares of the company’s stock worth $3,200,000 after purchasing an additional 595 shares during the last quarter. Cerro Pacific Wealth Advisors LLC bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $291,000. Inspire Investing LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $1,703,000. Raleigh Capital Management Inc. raised its position in shares of Trane Technologies by 21.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 558 shares of the company’s stock worth $206,000 after acquiring an additional 100 shares during the last quarter. Finally, True North Advisors LLC lifted its stake in shares of Trane Technologies by 13.7% in the fourth quarter. True North Advisors LLC now owns 2,288 shares of the company’s stock worth $845,000 after acquiring an additional 275 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TT. Robert W. Baird lowered their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on shares of Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, UBS Group started coverage on Trane Technologies in a research report on Wednesday, November 13th. They set a “buy” rating and a $500.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $420.64.

Trane Technologies Stock Performance

NYSE TT opened at $400.88 on Friday. The company has a market cap of $90.21 billion, a P/E ratio of 37.19, a PEG ratio of 2.16 and a beta of 1.06. The company has a fifty day simple moving average of $394.49 and a 200 day simple moving average of $375.03. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 12-month low of $250.06 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.32 billion. During the same period last year, the company earned $2.79 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Trane Technologies plc will post 11.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.