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

Alpine Global Management LLC purchased 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 purchased 1,394 shares of the company's stock, valued at approximately $515,000.

Other large investors also recently made changes to their positions in the company. Secured Retirement Advisors LLC increased its stake in Trane Technologies by 0.6% in the fourth quarter. Secured Retirement Advisors LLC now owns 4,628 shares of the company's stock valued at $1,709,000 after purchasing an additional 28 shares during the last quarter. First Citizens Financial Corp grew its holdings in Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company's stock valued at $242,000 after purchasing an additional 29 shares during the period. Catalina Capital Group LLC increased its position in Trane Technologies by 3.2% during the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company's stock worth $341,000 after purchasing an additional 29 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Trane Technologies by 0.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,538 shares of the company's stock worth $2,046,000 after purchasing an additional 29 shares during the period. Finally, Kanawha Capital Management LLC boosted its holdings in shares of Trane Technologies by 0.6% in the 4th quarter. Kanawha Capital Management LLC now owns 4,712 shares of the company's stock valued at $1,740,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TT shares. Royal Bank of Canada increased their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Barclays decreased their target price on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $405.00 to $415.00 in a research report on Friday. Finally, Melius lowered shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective for the company. in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $405.94.

Trane Technologies Stock Up 1.5 %

TT stock traded up $5.19 during midday trading on Friday, hitting $348.23. 1,677,708 shares of the company's stock were exchanged, compared to its average volume of 1,309,001. The stock has a market capitalization of $78.10 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth 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. The firm has a 50 day moving average price of $342.66 and a 200-day moving average price of $373.33. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies's dividend payout ratio (DPR) is 33.42%.

Insider Activity

In related news, CFO Christopher J. Kuehn sold 770 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the sale, the chief financial officer now owns 62,221 shares of the company's stock, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares of the company's stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,234 shares of company stock valued at $2,588,102. Company insiders own 0.38% of the company's stock.

Trane Technologies Company 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.