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

Polymer Capital Management HK LTD reduced its holdings in Trane Technologies plc (NYSE:TT) by 63.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 860 shares of the company’s stock after selling 1,500 shares during the period. Polymer Capital Management HK LTD’s holdings in Trane Technologies were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the fourth quarter worth about $26,000. Sound Income Strategies LLC raised its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock worth $37,000 after purchasing an additional 92 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Trane Technologies in the 4th quarter valued at approximately $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the third quarter valued at $44,000. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on TT shares. Royal Bank of Canada increased their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Barclays cut their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company lowered their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Melius Research reaffirmed a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $413.69.

Trane Technologies Stock Performance

NYSE TT opened at $318.18 on Monday. The firm has a 50-day moving average price of $351.63 and a two-hundred day moving average price of $379.00. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The company has a market capitalization of $71.36 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. Analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, June 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 33.42%.

Insider Buying and Selling

In other Trane Technologies news, CEO David S. Regnery sold 2,754 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the sale, the chief executive officer now directly owns 132,969 shares in the company, valued at $47,515,142.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $22,818,050.22. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 over the last quarter. 0.38% of the stock is owned by company insiders.

About Trane Technologies

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.