Bank Julius Baer & Co. Ltd Zurich Has $170.06 Million Stock Holdings in Trane Technologies plc $TT

Key Points

• Bank Julius Baer trimmed its Trane Technologies stake by 6.5% in the fourth quarter, but still held 436,924 shares worth about $170.1 million at quarter-end.
• Trane Technologies reported better-than-expected quarterly results, with EPS of $2.63 versus $2.53 expected and revenue of $4.97 billion versus $4.81 billion expected, while revenue rose 6% year over year.
• The company announced a quarterly dividend of $1.05 per share, payable June 30, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $505.56.

Bank Julius Baer & Co. Ltd Zurich lessened its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,924 shares of the company's stock after selling 30,294 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.20% of Trane Technologies worth $170,055,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TT. JPMorgan Chase & Co. lifted its stake in shares of Trane Technologies by 10.2% during the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Trane Technologies by 135.4% during the second quarter. Corient Private Wealth LLC now owns 735,589 shares of the company's stock valued at $321,757,000 after acquiring an additional 423,090 shares during the period. SG Americas Securities LLC lifted its stake in shares of Trane Technologies by 13,460.8% during the fourth quarter. SG Americas Securities LLC now owns 423,504 shares of the company's stock valued at $164,828,000 after acquiring an additional 420,381 shares during the period. Credit Agricole S A acquired a new position in Trane Technologies in the third quarter valued at about $118,129,000. Finally, Danske Bank A S acquired a new position in Trane Technologies in the third quarter valued at about $88,959,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Performance

TT opened at $470.52 on Thursday. The business's 50-day moving average price is $449.02 and its two-hundred day moving average price is $428.20. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $503.47. The company has a market capitalization of $104.01 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion during the quarter, compared to analysts' expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.Trane Technologies's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 earnings per share. Equities analysts expect that Trane Technologies plc will post 14.87 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. Trane Technologies's dividend payout ratio is 32.48%.

Analyst Upgrades and Downgrades

TT has been the topic of several analyst reports. Oppenheimer increased their target price on Trane Technologies from $460.00 to $468.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. KeyCorp increased their target price on Trane Technologies from $525.00 to $555.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Citigroup increased their target price on Trane Technologies from $525.00 to $570.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Evercore initiated coverage on Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 target price on the stock. Finally, Barclays increased their target price on Trane Technologies from $507.00 to $585.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Trane Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $505.56.

Insider Buying and Selling at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at $3,001,170. This trade represents a 8.21% 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, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares in the company, valued at approximately $40,978,950.12. This represents a 27.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,654 shares of company stock valued at $23,269,523 over the last quarter. Insiders own 0.14% of the company's stock.

Trane Technologies Company 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.

Want to see what other hedge funds are holding TT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trane Technologies plc (NYSE:TT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.