Zurcher Kantonalbank Zurich Cantonalbank Acquires 20,010 Shares of Trane Technologies plc $TT

Key Points

• Zurcher Kantonalbank boosted its holding in Trane Technologies by 7.4% in Q4, purchasing 20,010 shares to own 292,165 shares valued at $113.71 million (about 0.13% of the company).
• Sell‑side sentiment is broadly positive with a consensus rating of Moderate Buy and an average price target of $491.47, including high targets such as Evercore’s $535 and mixed buy/hold recommendations from major brokers.
• Insider activity shows notable selling—CEO David S. Regnery sold 36,045 shares and the CFO sold 8,619 shares recently—while the company declared a $1.05 quarterly dividend (annualized $4.20, ~0.9% yield).

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,165 shares of the company's stock after purchasing an additional 20,010 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.13% of Trane Technologies worth $113,711,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Consulate Inc. bought a new position in Trane Technologies in the third quarter valued at approximately $25,000. United Community Bank increased its stake in Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company's stock valued at $32,000 after acquiring an additional 43 shares during the last quarter. JPL Wealth Management LLC bought a new position in Trane Technologies in the third quarter valued at approximately $32,000. KERR FINANCIAL PLANNING Corp bought a new position in Trane Technologies in the third quarter valued at approximately $42,000. Finally, Halbert Hargrove Global Advisors LLC increased its stake in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company's stock valued at $43,000 after acquiring an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TT. Royal Bank Of Canada lifted their price objective on shares of Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. Evercore began coverage on shares of Trane Technologies in a research note on Monday, April 13th. They issued an "outperform" rating and a $535.00 price objective on the stock. Citigroup lifted their price objective on shares of Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a research note on Friday, January 30th. UBS Group decreased their target price on shares of Trane Technologies from $544.00 to $520.00 and set a "buy" rating on the stock in a research note on Monday, January 5th. Finally, Barclays boosted their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $491.47.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $476.07 on Monday. The firm has a market cap of $105.37 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.51 and a beta of 1.21. The firm's fifty day moving average is $443.97 and its 200-day moving average is $421.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies plc has a 52 week low of $318.08 and a 52 week high of $480.51.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.05. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. Trane Technologies's revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.61 earnings per share. Sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $1.05 dividend. The ex-dividend date is Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's payout ratio is presently 32.36%.

Insider Activity

In related news, CEO David S. Regnery sold 36,045 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the transaction, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. The trade was a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher J. Kuehn sold 8,619 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total transaction of $3,878,550.00. Following the completion of the transaction, the chief financial officer owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,997 shares of company stock worth $25,107,014 in the last three months. Corporate 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.

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