Checchi Capital Advisers LLC Purchases 425 Shares of Trane Technologies plc (NYSE:TT)

Checchi Capital Advisers LLC lifted its position in Trane Technologies plc (NYSE:TT) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,373 shares of the company’s stock after acquiring an additional 425 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Trane Technologies were worth $876,000 as of its most recent SEC filing.

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

Trane Technologies Price Performance

Shares of NYSE TT opened at $350.30 on Thursday. The business’s 50 day moving average price is $372.37 and its 200 day moving average price is $380.26. The firm has a market cap of $78.57 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.50 and a beta of 1.05. Trane Technologies plc has a 52 week low of $279.00 and a 52 week high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 30th. The company reported $2.61 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%. On average, sell-side analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

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

Insiders Place Their Bets

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the sale, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Mairead Magner sold 4,329 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 in the company, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TT shares. Northcoast Research started coverage on shares of Trane Technologies in a report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price for the company. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 target price for the company. in a report on Thursday, October 31st. Citigroup reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Melius Research reiterated a “hold” rating and issued a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $415.25.

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.