Checchi Capital Advisers LLC Has $379,000 Stake in Trane Technologies plc (NYSE:TT)

Checchi Capital Advisers LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,982 shares of the company’s stock after purchasing an additional 57 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Trane Technologies were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TT. Capital Advisors Ltd. LLC increased its holdings in Trane Technologies by 453.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 155 shares of the company’s stock valued at $30,000 after buying an additional 127 shares during the period. Live Oak Investment Partners bought a new position in Trane Technologies in the 4th quarter valued at about $30,000. WealthPLAN Partners LLC bought a new position in Trane Technologies in the 1st quarter valued at about $33,000. 1832 Asset Management L.P. bought a new position in Trane Technologies in the 1st quarter valued at about $34,000. Finally, Dark Forest Capital Management LP bought a new position in Trane Technologies in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Trane Technologies Stock Up 0.9 %

Shares of NYSE TT opened at $228.68 on Friday. The company has a market capitalization of $52.04 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $229.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.29. The company’s 50 day moving average price is $205.29 and its 200-day moving average price is $194.83.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.13. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.80 billion. Trane Technologies had a net margin of 11.30% and a return on equity of 31.97%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.27 EPS. Equities analysts forecast that Trane Technologies plc will post 9.01 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.31%. Trane Technologies’s payout ratio is presently 35.34%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 17,585 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the transaction, the chief executive officer now owns 93,081 shares in the company, valued at approximately $20,477,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David S. Regnery sold 17,585 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $220.00, for a total transaction of $3,868,700.00. Following the transaction, the chief executive officer now owns 93,081 shares in the company, valued at approximately $20,477,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raymond D. Pittard sold 13,144 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $218.24, for a total transaction of $2,868,546.56. Following the transaction, the executive vice president now owns 82,235 shares in the company, valued at approximately $17,946,966.40. The disclosure for this sale can be found here. Insiders have sold 32,366 shares of company stock worth $7,093,065 in the last quarter. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the topic of several recent analyst reports. Barclays raised their target price on shares of Trane Technologies from $222.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. JPMorgan Chase & Co. raised shares of Trane Technologies from an “underweight” rating to a “neutral” rating and set a $191.00 price target on the stock in a report on Friday, October 6th. Mizuho lifted their price target on shares of Trane Technologies from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Morgan Stanley lifted their price target on shares of Trane Technologies from $231.00 to $234.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Trane Technologies from $195.00 to $190.00 in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus target price of $207.31.

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.