Zions Bancorporation N.A. Cuts Position in Trane Technologies plc (NYSE:TT)

Zions Bancorporation N.A. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,082 shares of the company’s stock after selling 345 shares during the period. Zions Bancorporation N.A.’s holdings in Trane Technologies were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Trane Technologies in the 4th quarter valued at approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Trane Technologies by 455.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock valued at $167,977,000 after acquiring an additional 350,277 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after purchasing an additional 293,916 shares during the period. Proficio Capital Partners LLC grew its stake in Trane Technologies by 47,293.6% during the 4th quarter. Proficio Capital Partners LLC now owns 253,082 shares of the company’s stock worth $93,476,000 after purchasing an additional 252,548 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 2,754 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the completion of the transaction, the chief executive officer now directly owns 132,969 shares of the company’s stock, valued at approximately $47,515,142.46. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $352.29 on Thursday. The stock has a market capitalization of $79.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 1.08. The firm’s fifty day simple moving average is $359.83 and its 200-day simple moving average is $380.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a 12 month low of $286.32 and a 12 month high of $422.00.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s payout ratio is presently 33.42%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TT shares. Melius Research reissued a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. UBS Group reduced their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research note on Friday, January 3rd. Finally, Melius cut Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $413.69.

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.