Crestline Management LP Takes $776,000 Position in Trane Technologies plc (NYSE:TT)

Crestline Management LP acquired a new stake in Trane Technologies plc (NYSE:TT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,100 shares of the company's stock, valued at approximately $776,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers grew its holdings in Trane Technologies by 6.9% in the 4th quarter. Cetera Investment Advisers now owns 58,990 shares of the company's stock valued at $21,788,000 after buying an additional 3,782 shares in the last quarter. Centiva Capital LP lifted its position in shares of Trane Technologies by 33.3% during the 4th quarter. Centiva Capital LP now owns 6,541 shares of the company's stock worth $2,416,000 after buying an additional 1,635 shares during the last quarter. BROOKFIELD Corp ON increased its position in Trane Technologies by 1.5% during the 4th quarter. BROOKFIELD Corp ON now owns 7,415 shares of the company's stock worth $2,739,000 after purchasing an additional 106 shares in the last quarter. Bridgefront Capital LLC lifted its stake in shares of Trane Technologies by 90.7% in the 4th quarter. Bridgefront Capital LLC now owns 4,309 shares of the company's stock valued at $1,592,000 after acquiring an additional 2,050 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Trane Technologies by 9.4% in the 4th quarter. Captrust Financial Advisors now owns 16,645 shares of the company's stock worth $6,148,000 after purchasing an additional 1,424 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $323.00 to $334.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Robert W. Baird raised their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Barclays dropped their price objective on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trane Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $421.07.

Insiders Place Their Bets

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

Trane Technologies Price Performance

Shares of TT stock traded up $6.02 on Tuesday, reaching $422.17. 1,348,876 shares of the company were exchanged, compared to its average volume of 1,343,529. The business has a 50-day moving average price of $351.40 and a 200 day moving average price of $372.31. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $424.72. The company has a market cap of $94.15 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. The company had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 EPS. Equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 31.28%.

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.