Hsbc Holdings PLC Has $80.62 Million Stock Position in Trane Technologies plc $TT

Hsbc Holdings PLC cut its holdings in Trane Technologies plc (NYSE:TT) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,825 shares of the company’s stock after selling 16,642 shares during the quarter. Hsbc Holdings PLC’s holdings in Trane Technologies were worth $80,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tucker Asset Management LLC acquired a new position in Trane Technologies during the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $32,000. JPL Wealth Management LLC bought a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $32,000. Kemnay Advisory Services Inc. acquired a new position in Trane Technologies during the 4th quarter worth approximately $34,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Trane Technologies by 119.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 90 shares of the company’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup raised their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. increased their price target on Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. BNP Paribas Exane assumed coverage on Trane Technologies in a report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective on the stock. Sanford C. Bernstein initiated coverage on Trane Technologies in a research report on Tuesday, June 9th. They set an “outperform” rating and a $550.00 price objective on the stock. Finally, 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 research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $509.12.

Trane Technologies Trading Down 0.1%

Shares of TT stock opened at $477.76 on Friday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.61 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.20 and a beta of 1.19. The stock has a 50-day moving average of $470.69 and a 200-day moving average of $440.93.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider owned 3,819 shares of the company’s stock, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

About Trane Technologies

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.