Checchi Capital Advisers LLC Boosts Holdings in Trane Technologies plc (NYSE:TT)

Checchi Capital Advisers LLC increased its holdings in Trane Technologies plc (NYSE:TT) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,373 shares of the company’s stock after buying an additional 425 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Trane Technologies were worth $876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies during the third quarter valued at approximately $27,000. Global Wealth Strategies & Associates purchased a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its holdings in Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new position in Trane Technologies during the third quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new position in Trane Technologies during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Up 0.4 %

Shares of NYSE TT opened at $350.30 on Thursday. Trane Technologies plc has a 1 year low of $279.00 and a 1 year high of $422.00. The firm has a 50-day simple moving average of $372.37 and a two-hundred day simple moving average of $380.26. The company has a market cap of $78.57 billion, a P/E ratio of 31.14, a PEG ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, March 7th. Trane Technologies’s payout ratio is currently 29.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on TT shares. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective 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. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 price objective on the stock. Melius cut shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective on the stock. in a research report on Tuesday, January 28th. Finally, Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies has an average rating of “Hold” and a consensus target price of $415.25.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is currently owned by company insiders.

Trane Technologies Profile

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.