Hsbc Holdings PLC Trims Position in Trane Technologies plc $TT

Hsbc Holdings PLC cut its stake in shares of Trane Technologies plc (NYSE:TT) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,825 shares of the company’s stock after selling 16,642 shares during the period. 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 institutional investors and hedge funds have also recently modified their holdings of TT. Fiduciary Family Office LLC grew its stake in Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company’s stock valued at $612,000 after acquiring an additional 23 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its stake in Trane Technologies by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company’s stock worth $93,000 after purchasing an additional 23 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in Trane Technologies by 3.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after purchasing an additional 24 shares during the period. West Family Investments Inc. grew its position in shares of Trane Technologies by 2.3% during the 3rd quarter. West Family Investments Inc. now owns 1,072 shares of the company’s stock valued at $452,000 after purchasing an additional 24 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Trane Technologies by 0.3% during the 3rd quarter. Cresset Asset Management LLC now owns 7,012 shares of the company’s stock valued at $2,959,000 after purchasing an additional 24 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 value of $3,878,550.00. Following the completion of the sale, the chief financial officer owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the 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 transaction, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This represents a 54.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. Barclays upped their target price on Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Citigroup raised their price target on Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a report on Friday, May 1st. KeyCorp lifted their price target on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price objective on Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Trane Technologies has an average rating of “Moderate Buy” and an average target price of $509.12.

Trane Technologies Stock Performance

NYSE TT opened at $490.95 on Tuesday. Trane Technologies plc has a 52-week low of $348.06 and a 52-week high of $503.47. The company has a fifty day moving average of $468.51 and a 200-day moving average of $435.96. The company has a market capitalization of $108.52 billion, a P/E ratio of 37.97, a P/E/G ratio of 2.23 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating 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 business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the business posted $2.45 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors 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 yield of 0.9%. Trane Technologies’s payout ratio is presently 32.48%.

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.