Trane Technologies plc $TT Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Trane Technologies plc (NYSE:TT) by 215.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 653,423 shares of the company’s stock after purchasing an additional 446,598 shares during the quarter. Hsbc Holdings PLC owned about 0.30% of Trane Technologies worth $271,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Trane Technologies in the 4th quarter worth approximately $1,163,124,000. Capital International Investors bought a new stake in Trane Technologies during the 4th quarter valued at $324,639,000. Corient Private Wealth LLC boosted its position in Trane Technologies by 135.4% during the 2nd quarter. Corient Private Wealth LLC now owns 735,589 shares of the company’s stock worth $321,757,000 after acquiring an additional 423,090 shares during the period. SG Americas Securities LLC grew its stake in shares of Trane Technologies by 13,460.8% in the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company’s stock worth $164,828,000 after purchasing an additional 420,381 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Trane Technologies during the fourth quarter valued at $132,124,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a research note on Thursday, July 9th. Evercore started coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price on the stock. Barclays boosted their price target 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. BNP Paribas Exane started coverage on shares of Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Finally, KeyCorp raised their price objective on shares of Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $516.67.

Insider Activity at Trane Technologies

In related news, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 3,819 shares of the company’s stock, valued at $1,909,500. This 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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is owned by insiders.

Trane Technologies Trading Down 1.1%

Shares of TT stock opened at $469.59 on Friday. The stock has a 50-day simple moving average of $469.88 and a 200 day simple moving average of $446.98. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The stock has a market capitalization of $103.80 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.16 and a beta of 1.19. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

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. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm 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 company earned $2.45 earnings per share. Trane Technologies’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Trane Technologies plc will post 14.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is currently 32.48%.

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.