Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Trane Technologies plc (NYSE:TT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Trane Technologies plc (NYSE:TT) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 144,832 shares of the company’s stock after buying an additional 2,104 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Trane Technologies were worth $56,301,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Albar Capital Ltd purchased a new position in shares of Trane Technologies during the second quarter worth about $14,556,000. GDS Wealth Management grew its holdings in shares of Trane Technologies by 4.3% during the third quarter. GDS Wealth Management now owns 51,767 shares of the company’s stock worth $20,123,000 after buying an additional 2,124 shares during the last quarter. King Wealth Management Group purchased a new position in shares of Trane Technologies during the third quarter worth about $1,879,000. Gradient Investments LLC grew its holdings in shares of Trane Technologies by 7,988.0% during the second quarter. Gradient Investments LLC now owns 2,022 shares of the company’s stock worth $665,000 after buying an additional 1,997 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Trane Technologies by 4.1% during the second quarter. QRG Capital Management Inc. now owns 39,475 shares of the company’s stock worth $12,985,000 after buying an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TT. Barclays raised their price objective on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Trane Technologies in a research report on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price objective for the company. Finally, Robert W. Baird reduced their price target on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $397.64.

Trane Technologies Trading Down 0.7 %

Shares of Trane Technologies stock opened at $416.09 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $221.22 and a 1 year high of $422.00. The company has a market capitalization of $93.63 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.02. The business has a 50 day moving average price of $396.69 and a 200 day moving average price of $358.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The business had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 31.17%.

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.