Alpine Global Management LLC Buys New Holdings in Trane Technologies plc (NYSE:TT)

Alpine Global Management LLC bought a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,394 shares of the company's stock, valued at approximately $515,000.

A number of other hedge funds also recently modified their holdings of the business. Vise Technologies Inc. lifted its position in shares of Trane Technologies by 157.2% in the fourth quarter. Vise Technologies Inc. now owns 2,446 shares of the company's stock worth $904,000 after purchasing an additional 1,495 shares in the last quarter. Connecticut Wealth Management LLC increased its stake in Trane Technologies by 16.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,400 shares of the company's stock valued at $886,000 after buying an additional 338 shares during the period. Novem Group purchased a new stake in Trane Technologies in the 4th quarter worth approximately $226,000. Castleark Management LLC acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $26,996,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Trane Technologies by 14.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 43,214 shares of the company's stock valued at $15,961,000 after buying an additional 5,444 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $2.89 during trading hours on Wednesday, hitting $433.39. 356,951 shares of the company's stock were exchanged, compared to its average volume of 1,350,844. The company's 50-day moving average price is $369.49 and its 200-day moving average price is $375.38. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $439.29. The stock has a market capitalization of $96.65 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.50 and a beta of 1.14. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business posted $1.94 EPS. The company's revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts expect 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. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

Analyst Upgrades and Downgrades

TT has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Barclays cut their price target 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. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Stephens upgraded Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price objective on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird lifted their target price on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $427.47.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company's stock.

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.