Y Intercept Hong Kong Ltd Has $7.23 Million Holdings in Trane Technologies plc $TT

Y Intercept Hong Kong Ltd increased its position in Trane Technologies plc (NYSE:TT) by 53.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,357 shares of the company’s stock after acquiring an additional 6,051 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Trane Technologies were worth $7,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $32,000. JPL Wealth Management LLC acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $32,000. Physician Wealth Advisors Inc. boosted its stake in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in Trane Technologies in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT opened at $477.76 on Friday. Trane Technologies plc has a twelve month low of $348.06 and a twelve month high of $505.87. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.61 billion, a P/E ratio of 36.95, a PEG ratio of 2.20 and a beta of 1.19. The company’s 50-day simple moving average is $470.69 and its 200 day simple moving average is $440.93.

Trane Technologies (NYSE:TT) last released its quarterly earnings data 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 company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the business earned $2.45 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts forecast that Trane Technologies plc will post 14.9 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TT. Citigroup upped their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Barclays boosted their target price on shares of Trane Technologies from $507.00 to $585.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Sanford C. Bernstein initiated coverage on shares of Trane Technologies in a report on Tuesday, June 9th. They issued an “outperform” rating and a $550.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, 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 for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.12.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business’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 completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.