Alpine Global Management LLC Makes New Investment in Trane Technologies plc (NYSE:TT)

Alpine Global Management LLC acquired a new position in shares of Trane Technologies plc (NYSE:TT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,394 shares of the company’s stock, valued at approximately $515,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fayez Sarofim & Co acquired a new position in Trane Technologies in the 4th quarter valued at approximately $352,000. J. Safra Sarasin Holding AG increased its stake in shares of Trane Technologies by 453.1% in the fourth quarter. J. Safra Sarasin Holding AG now owns 77,022 shares of the company’s stock valued at $28,448,000 after buying an additional 63,096 shares during the period. Stifel Financial Corp lifted its stake in shares of Trane Technologies by 1.6% in the fourth quarter. Stifel Financial Corp now owns 172,706 shares of the company’s stock worth $63,789,000 after acquiring an additional 2,769 shares during the period. TD Waterhouse Canada Inc. increased its position in Trane Technologies by 3.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 37,918 shares of the company’s stock valued at $14,012,000 after purchasing an additional 1,135 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Trane Technologies by 257.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,648 shares of the company’s stock worth $6,149,000 after purchasing an additional 11,996 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Down 3.3 %

Trane Technologies stock opened at $322.29 on Tuesday. The stock has a fifty day simple moving average of $344.19 and a two-hundred day simple moving average of $374.20. Trane Technologies plc has a 12 month low of $288.95 and a 12 month high of $422.00. The firm has a market cap of $72.29 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.50 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last posted 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%. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 1.17%. Trane Technologies’s payout ratio is presently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 770 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the transaction, the chief financial officer now owns 62,221 shares in the company, valued at $22,299,384.19. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TT. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a research note on Tuesday, January 28th. Finally, Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $405.31.

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.