Trane Technologies plc (NYSE:TT) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Trane Technologies plc (NYSE:TT) by 60.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,239 shares of the company’s stock after buying 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.

Other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at $25,000. Venturi Wealth Management LLC boosted its position in Trane Technologies by 139.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 151 shares of the company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Live Oak Investment Partners purchased a new stake in Trane Technologies during the 4th quarter worth $30,000. Avior Wealth Management LLC boosted its position in Trane Technologies by 58.0% during the 3rd quarter. Avior Wealth Management LLC now owns 177 shares of the company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in Trane Technologies by 27.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 192 shares of the company’s stock worth $47,000 after purchasing an additional 41 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 in the company, valued at $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Christopher J. Kuehn sold 2,767 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the sale, the chief financial officer now owns 54,788 shares in the company, valued at $14,700,168.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated 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 in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders have sold a total of 29,874 shares of company stock worth $8,462,825 over the last quarter. 0.39% of the stock is owned by company insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $293.09 on Thursday. The firm has a market cap of $66.55 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05. The firm’s 50-day simple moving average is $289.02 and its 200-day simple moving average is $250.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies plc has a 1 year low of $162.04 and a 1 year high of $306.98.

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

Trane Technologies Announces Dividend

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

Analyst Ratings Changes

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

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.