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

Polymer Capital Management HK LTD reduced its holdings in Trane Technologies plc (NYSE:TT) by 63.6% in the 4th quarter, HoldingsChannel reports. 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 quarter.

A number of other hedge funds also recently modified their holdings of TT. Norges Bank acquired a new stake in Trane Technologies in the fourth quarter valued at $1,117,816,000. Raymond James Financial Inc. acquired a new stake in shares of Trane Technologies in the fourth quarter valued at about $611,322,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after acquiring an additional 350,277 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after acquiring an additional 293,916 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in Trane Technologies in the fourth quarter valued at approximately $98,560,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher J. Kuehn sold 770 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock valued at $2,588,102 in the last three months. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Down 3.9 %

Trane Technologies stock opened at $318.18 on Monday. The firm has a market capitalization of $71.36 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The firm’s fifty day moving average price is $351.63 and its two-hundred day moving average price is $379.00. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results 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%. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

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

Analysts Set New Price Targets

TT has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Citigroup dropped their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company dropped their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Melius downgraded Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 target price for the company. in a report on Tuesday, January 28th. One 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. According to data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and an average target price of $413.69.

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.