Zions Bancorporation National Association UT Takes $880,000 Position in Trane Technologies plc (NYSE:TT)

Key Points

• Zions Bancorporation National Association UT has acquired a new stake in Trane Technologies plc, purchasing 2,612 shares valued at approximately $880,000 in the first quarter.
• Analysts have varied opinions on Trane Technologies, with target prices ranging from $334.00 to $502.00 and an average rating of "Hold."
• Trane Technologies declared a quarterly dividend of $0.94 per share, scheduled for payment on September 30th, reflecting a dividend yield of 0.9%.

Zions Bancorporation National Association UT acquired a new stake in shares of Trane Technologies plc (NYSE:TT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,612 shares of the company's stock, valued at approximately $880,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock worth $6,555,377,000 after buying an additional 221,206 shares during the period. Ameriprise Financial Inc. lifted its holdings in Trane Technologies by 4.1% in the 4th quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company's stock worth $1,234,908,000 after buying an additional 130,867 shares during the period. Northern Trust Corp lifted its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company's stock worth $948,316,000 after buying an additional 429,953 shares during the period. Nuveen Asset Management LLC lifted its holdings in Trane Technologies by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,332,626 shares of the company's stock worth $861,555,000 after buying an additional 37,389 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trane Technologies by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,319,287 shares of the company's stock valued at $856,629,000 after purchasing an additional 177,206 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Northcoast Research cut shares of Trane Technologies from a "buy" rating to a "neutral" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada lifted their price objective on Trane Technologies from $463.00 to $467.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $458.60.

Trane Technologies Stock Up 0.5%

Trane Technologies stock opened at $430.09 on Friday. The firm has a market cap of $95.70 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.68 and a beta of 1.09. The stock has a fifty day simple moving average of $435.42 and a two-hundred day simple moving average of $389.90. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the company earned $3.30 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies's payout ratio is presently 29.82%.

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.

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