Trane Technologies plc $TT Stock Holdings Decreased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Trane Technologies by 1.9%, owning approximately 0.16% of the company, which equates to about $118.8 million.
• Analysts have provided mixed reviews on Trane Technologies, with Barclays and Morgan Stanley raising their price targets while Northcoast Research downgraded the stock, contributing to an average target price of $458.60.
• Trane Technologies announced a quarterly dividend of $0.94, which will be paid to shareholders, representing an annualized yield of 0.9%.

Hsbc Holdings PLC lessened its position in Trane Technologies plc (NYSE:TT - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,444 shares of the company's stock after selling 6,871 shares during the quarter. Hsbc Holdings PLC owned approximately 0.16% of Trane Technologies worth $118,822,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp grew its holdings in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares in the last quarter. Minot DeBlois Advisors LLC purchased a new stake in Trane Technologies in the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Trane Technologies during the 4th quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in Trane Technologies during the 1st quarter valued at about $31,000. Finally, Bogart Wealth LLC increased its holdings in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TT shares. Barclays raised their price target on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Morgan Stanley increased their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Finally, Northcoast Research cut Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies presently has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Down 0.1%

TT stock opened at $428.3990 on Wednesday. The firm has a market cap of $95.32 billion, a PE ratio of 33.97, a PEG ratio of 2.67 and a beta of 1.09. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18. The company has a fifty day simple moving average of $435.55 and a 200 day simple moving average of $392.58. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the business posted $3.30 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is presently 29.82%.

Trane Technologies 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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