Hsbc Holdings PLC Sells 88,782 Shares of Trane Technologies plc (NYSE:TT)

Hsbc Holdings PLC cut its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,315 shares of the company's stock after selling 88,782 shares during the period. Hsbc Holdings PLC owned about 0.16% of Trane Technologies worth $133,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TT. World Investment Advisors LLC boosted its holdings in shares of Trane Technologies by 5,253.1% in the 3rd quarter. World Investment Advisors LLC now owns 34,581 shares of the company's stock worth $13,443,000 after buying an additional 33,935 shares during the last quarter. Sfmg LLC grew its position in shares of Trane Technologies by 1.5% during the 3rd quarter. Sfmg LLC now owns 2,441 shares of the company's stock valued at $949,000 after acquiring an additional 36 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trane Technologies during the 3rd quarter worth approximately $3,916,000. Tidal Investments LLC raised its holdings in shares of Trane Technologies by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after purchasing an additional 2,874 shares during the period. Finally, Synovus Financial Corp lifted its stake in Trane Technologies by 16.8% in the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock valued at $3,431,000 after purchasing an additional 1,271 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Trading Up 3.3 %

Shares of TT opened at $332.92 on Wednesday. Trane Technologies plc has a 1-year low of $291.37 and a 1-year high of $422.00. The company has a market capitalization of $74.67 billion, a P/E ratio of 29.59, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm's 50 day simple moving average is $343.62 and its 200 day simple moving average is $373.91.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.94 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. Trane Technologies's payout ratio is 33.42%.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total value of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company's stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 over the last quarter. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Royal Bank of Canada increased their price target on Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a research note on Friday, January 3rd. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their price objective on shares of Trane Technologies from $476.00 to $415.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Melius Research restated a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $405.31.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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