Y Intercept Hong Kong Ltd Has $7.23 Million Holdings in Trane Technologies plc $TT

Y Intercept Hong Kong Ltd increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 53.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,357 shares of the company’s stock after acquiring an additional 6,051 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Trane Technologies were worth $7,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TT. Tucker Asset Management LLC acquired a new position in Trane Technologies in the fourth quarter worth $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth $32,000. JPL Wealth Management LLC acquired a new stake in shares of Trane Technologies in the third quarter valued at $32,000. Physician Wealth Advisors Inc. lifted its position in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company’s stock worth $33,000 after buying an additional 52 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Trane Technologies during the 4th quarter worth about $34,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore assumed coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an “outperform” rating and a $535.00 target price for the company. Citigroup increased their price target on shares of Trane Technologies from $525.00 to $570.00 and gave the company a “buy” rating in a research note 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 target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, KeyCorp upped their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.12.

Insiders Place Their Bets

In other Trane Technologies news, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value 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 trade represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of NYSE:TT opened at $477.76 on Friday. The stock 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 plc has a 1-year low of $348.06 and a 1-year high of $505.87. The company has a current ratio of 1.10, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $470.69 and a two-hundred day moving average price of $440.93.

Trane Technologies (NYSE:TT) last issued its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the firm earned $2.45 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts predict that Trane Technologies plc will post 14.9 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s payout ratio is currently 32.48%.

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.