Polymer Capital Management HK LTD Has $318,000 Position in Trane Technologies plc (NYSE:TT)

Polymer Capital Management HK LTD decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 63.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860 shares of the company's stock after selling 1,500 shares during the quarter. Polymer Capital Management HK LTD's holdings in Trane Technologies were worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IHT Wealth Management LLC boosted its stake in Trane Technologies by 55.3% during the 3rd quarter. IHT Wealth Management LLC now owns 1,249 shares of the company's stock worth $485,000 after acquiring an additional 445 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Trane Technologies by 40.6% in the third quarter. Quantinno Capital Management LP now owns 10,991 shares of the company's stock worth $4,273,000 after purchasing an additional 3,174 shares during the period. Wellington Management Group LLP boosted its position in shares of Trane Technologies by 4.3% during the third quarter. Wellington Management Group LLP now owns 728,428 shares of the company's stock worth $283,162,000 after purchasing an additional 30,038 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $1,438,000. Finally, EP Wealth Advisors LLC raised its stake in Trane Technologies by 37.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,054 shares of the company's stock worth $799,000 after buying an additional 561 shares during the period. 82.97% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have issued reports on TT. Citigroup lowered their price target on Trane Technologies from $478.00 to $476.00 and set a "buy" rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a research note on Tuesday. Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. UBS Group reduced their price target on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their price objective on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a "sector perform" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of "Hold" and an average price target of $409.13.

Insider Activity

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company's stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on 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 owns 13,401 shares in the company, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by insiders.

Trane Technologies Stock Performance

NYSE TT traded up $7.84 during trading on Friday, reaching $346.17. 1,531,556 shares of the company's stock were exchanged, compared to its average volume of 1,287,070. Trane Technologies plc has a fifty-two week low of $286.32 and a fifty-two week high of $422.00. The stock has a market capitalization of $77.64 billion, a P/E ratio of 30.77, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50 day moving average price of $347.12 and a 200-day moving average price of $376.46. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, June 6th. Trane Technologies's dividend payout ratio is presently 33.42%.

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.