Hsbc Holdings PLC Has $80.62 Million Stock Holdings in Trane Technologies plc $TT

Key Points

• HSBC Holdings PLC trimmed its stake in Trane Technologies by 7.4% in the fourth quarter, selling 16,642 shares and ending with 206,825 shares valued at about $80.6 million.
• Trane Technologies reported better-than-expected quarterly results, posting EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion versus $4.81 billion forecast, with revenue up 6% year over year.
• The company also announced a quarterly dividend of $1.05 per share, implying a 0.9% yield, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $509.12.

Hsbc Holdings PLC decreased its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 206,825 shares of the company's stock after selling 16,642 shares during the period. Hsbc Holdings PLC owned 0.09% of Trane Technologies worth $80,616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Family Office LLC lifted its position in Trane Technologies by 1.5% during the fourth quarter. Fiduciary Family Office LLC now owns 1,573 shares of the company's stock worth $612,000 after acquiring an additional 23 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its holdings in shares of Trane Technologies by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 239 shares of the company's stock worth $93,000 after acquiring an additional 23 shares during the period. Cresset Asset Management LLC grew its position in shares of Trane Technologies by 0.3% in the third 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 during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Trane Technologies by 1.6% during the fourth quarter. Bridges Investment Management Inc. now owns 1,542 shares of the company's stock worth $600,000 after purchasing an additional 24 shares during the period. Finally, Bryn Mawr Trust Advisors LLC increased its stake in shares of Trane Technologies by 1.2% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 2,112 shares of the company's stock worth $822,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Trading Down 0.1%

Shares of NYSE:TT opened at $477.76 on Friday. The business's 50 day simple moving average is $470.69 and its 200 day simple moving average is $440.93. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market capitalization of $105.61 billion, a P/E ratio of 36.95, a P/E/G ratio of 2.20 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 EPS. On average, research analysts anticipate that Trane Technologies plc will post 14.9 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio is currently 32.48%.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 60,576 shares in the company, valued at $27,259,200. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company's stock.

Analyst Ratings Changes

TT has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on Trane Technologies from $440.00 to $501.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Barclays increased their price objective on 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 started coverage on shares of Trane Technologies in a research report on Tuesday, June 9th. They issued an "outperform" rating and a $550.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a research note 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 target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies has an average rating of "Moderate Buy" and a consensus target price of $509.12.

Trane Technologies 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.

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