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

Crestline Management LP acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,100 shares of the company’s stock, valued at approximately $776,000.

Other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Trane Technologies in the 4th quarter worth approximately $468,000. HB Wealth Management LLC boosted its stake in Trane Technologies by 14.3% during the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $2,101,000 after purchasing an additional 711 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Trane Technologies by 31.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company’s stock valued at $10,733,000 after purchasing an additional 6,910 shares during the period. Stonegate Investment Group LLC raised its stake in shares of Trane Technologies by 11.9% in the 4th quarter. Stonegate Investment Group LLC now owns 15,378 shares of the company’s stock worth $5,680,000 after buying an additional 1,633 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Trane Technologies by 1,490.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,417 shares of the company’s stock valued at $7,172,000 after buying an additional 18,196 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TT shares. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $396.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. HSBC upgraded Trane Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $415.00 in a research report on Friday, April 25th. Finally, Stephens raised Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 target price on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $421.07.

Trane Technologies Price Performance

TT opened at $404.32 on Friday. The stock has a fifty day moving average price of $350.05 and a 200 day moving average price of $372.45. 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 plc has a 1 year low of $298.15 and a 1 year high of $422.00. The stock has a market cap of $90.17 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last announced its quarterly 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. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company earned $1.94 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 0.93%. Trane Technologies’s dividend payout ratio is currently 31.28%.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the transaction, the insider now owns 3,593 shares in the company, valued at $1,365,340. This trade represents a 49.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the firm’s 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 sale, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,977 shares of company stock valued at $2,577,061. 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.