Zurcher Kantonalbank Zurich Cantonalbank Sells 39,383 Shares of Trane Technologies plc (NYSE:TT)

Key Points

• Zurcher Kantonalbank has decreased its holdings in Trane Technologies by 25.7%, leaving it with 113,786 shares valued at approximately $38.34 million.
• Institutional investors collectively own 82.97% of Trane Technologies, with significant increases in stakes from firms like GAMMA Investing LLC, which raised its position by over 35,458%.
• Trane Technologies reported a net margin of 13.47% and a quarterly revenue increase of 11.2% year-over-year, reflecting robust business performance.

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 25.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,786 shares of the company's stock after selling 39,383 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Trane Technologies worth $38,337,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. WFA Asset Management Corp increased its holdings in Trane Technologies by 208.3% in the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Trane Technologies during the first quarter valued at approximately $31,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TT. HSBC raised Trane Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $405.00 to $415.00 in a report on Friday, April 25th. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a report on Thursday, May 1st. Citigroup lifted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Barclays raised their target price on shares of Trane Technologies from $476.00 to $480.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.40.

Trane Technologies Trading Up 0.1%

Shares of Trane Technologies stock traded up $0.38 during trading on Monday, hitting $472.45. The company's stock had a trading volume of 1,209,811 shares, compared to its average volume of 1,020,104. The stock has a market cap of $105.37 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 3.07 and a beta of 1.15. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.19. The stock has a 50-day moving average price of $433.99 and a two-hundred day moving average price of $386.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.20 by $0.25. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The business's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. Equities research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.80%. Trane Technologies's payout ratio is 31.28%.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the sale, the insider directly owned 3,593 shares of the company's stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

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.