Alpine Woods Capital Investors LLC Raises Stake in Trane Technologies plc (NYSE:TT)

Alpine Woods Capital Investors LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 9.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,818 shares of the company's stock after purchasing an additional 1,469 shares during the quarter. Trane Technologies comprises about 1.2% of Alpine Woods Capital Investors LLC's holdings, making the stock its 24th biggest holding. Alpine Woods Capital Investors LLC's holdings in Trane Technologies were worth $6,212,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Trane Technologies by 4.0% during the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company's stock valued at $4,018,563,000 after acquiring an additional 397,537 shares during the last quarter. State Street Corp boosted its holdings in shares of Trane Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 9,769,161 shares of the company's stock valued at $3,797,565,000 after acquiring an additional 77,830 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trane Technologies by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company's stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Trane Technologies by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock valued at $991,460,000 after acquiring an additional 671,691 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Trane Technologies by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,142,081 shares of the company's stock valued at $832,691,000 after acquiring an additional 20,151 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on TT shares. Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 price objective on the stock. in a report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. Finally, Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $413.69.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % 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. Also, CFO Christopher J. Kuehn sold 876 shares of Trane Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,234 shares of company stock worth $2,588,102. Insiders own 0.38% of the company's stock.

Trane Technologies Price Performance

Shares of Trane Technologies stock traded down $6.67 on Tuesday, hitting $344.27. 1,502,763 shares of the company traded hands, compared to its average volume of 1,158,893. The stock has a market capitalization of $77.22 billion, a P/E ratio of 30.60, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 plc has a 52 week low of $286.32 and a 52 week high of $422.00. The business has a 50-day simple moving average of $364.02 and a 200 day simple moving average of $380.16.

Trane Technologies (NYSE:TT - Get Free Report) last announced 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%. Research 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. Investors of record on Friday, March 7th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, March 7th. This is a boost from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's payout ratio is currently 33.42%.

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.