Avestar Capital LLC Acquires 101 Shares of Trane Technologies plc (NYSE:TT)

Avestar Capital LLC raised its holdings in Trane Technologies plc (NYSE:TT) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,801 shares of the company’s stock after purchasing an additional 101 shares during the quarter. Avestar Capital LLC’s holdings in Trane Technologies were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TT. Global Wealth Strategies & Associates purchased a new position in shares of Trane Technologies in the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new stake in Trane Technologies in the third quarter worth about $27,000. DT Investment Partners LLC purchased a new position in Trane Technologies in the third quarter valued at about $36,000. Sound Income Strategies LLC grew its position in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the period. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $39,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

TT has been the topic of several research analyst reports. Citigroup dropped their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. 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 report on Friday, January 3rd. Mizuho boosted their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays increased their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $415.25.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction dated 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 directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,563 shares of company stock valued at $4,388,966. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Performance

Trane Technologies stock opened at $361.25 on Friday. Trane Technologies plc has a 1-year low of $270.50 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $81.29 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. The firm’s 50 day simple moving average is $380.49 and its 200 day simple moving average is $378.02.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 29.87%.

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.