Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Trane Technologies plc (NYSE:TT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 60.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,239 shares of the company’s stock after purchasing an additional 42,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trane Technologies were worth $27,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Everence Capital Management Inc. boosted its holdings in shares of Trane Technologies by 17.0% during the 4th quarter. Everence Capital Management Inc. now owns 20,980 shares of the company’s stock worth $5,117,000 after purchasing an additional 3,050 shares during the last quarter. Keel Point LLC boosted its holdings in shares of Trane Technologies by 3.0% during the 4th quarter. Keel Point LLC now owns 1,326 shares of the company’s stock worth $323,000 after purchasing an additional 39 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in shares of Trane Technologies during the 4th quarter worth approximately $6,738,000. Louisiana State Employees Retirement System acquired a new position in Trane Technologies in the fourth quarter valued at approximately $3,366,000. Finally, Simplicity Solutions LLC lifted its holdings in Trane Technologies by 3.3% in the fourth quarter. Simplicity Solutions LLC now owns 3,577 shares of the company’s stock valued at $872,000 after acquiring an additional 113 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on TT shares. Barclays upped their price objective on Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup upped their price objective on Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada upped their price objective on Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group upped their price objective on Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Stephens upped their price objective on Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $251.83.

Trane Technologies Stock Down 0.9 %

Shares of NYSE TT opened at $293.09 on Thursday. Trane Technologies plc has a 52-week low of $162.04 and a 52-week high of $306.98. The business’s 50 day moving average is $289.02 and its two-hundred day moving average is $250.01. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. The firm has a market cap of $66.55 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.49 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Research analysts predict that Trane Technologies plc will post 10.2 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the sale, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul A. Camuti sold 5,643 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.30, for a total value of $1,626,876.90. Following the completion of the transaction, the executive vice president now directly owns 88,770 shares in the company, valued at approximately $25,592,391. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is currently 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.