Trane Technologies plc $TT Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 215.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 653,423 shares of the company’s stock after purchasing an additional 446,598 shares during the period. Hsbc Holdings PLC’s holdings in Trane Technologies were worth $271,950,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tucker Asset Management LLC purchased a new position in Trane Technologies in the 4th quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in Trane Technologies during the fourth quarter valued at about $32,000. JPL Wealth Management LLC purchased a new stake in Trane Technologies during the third quarter valued at about $32,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Trane Technologies by 192.6% in the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after buying an additional 52 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Trane Technologies in the fourth quarter worth approximately $34,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $469.59 on Friday. The company has a market capitalization of $103.80 billion, a PE ratio of 36.32, a PEG ratio of 2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. The company’s 50 day moving average price is $469.88 and its 200 day moving average price is $446.98. Trane Technologies plc has a 52 week low of $348.06 and a 52 week high of $505.87.

Trane Technologies (NYSE:TT) last released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 EPS. Research analysts expect that Trane Technologies plc will post 14.89 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio is 32.48%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore began coverage on shares of Trane Technologies in a report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research note on Monday, April 20th. BNP Paribas Exane began coverage on shares of Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Royal Bank Of Canada increased their target price on Trane Technologies from $440.00 to $501.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $516.67.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.