Bank Julius Baer & Co. Ltd Zurich Has $170.06 Million Stock Position in Trane Technologies plc $TT

Bank Julius Baer & Co. Ltd Zurich lowered its stake in Trane Technologies plc (NYSE:TT) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 436,924 shares of the company’s stock after selling 30,294 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Trane Technologies were worth $170,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Trane Technologies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 20,020,321 shares of the company’s stock valued at $7,791,909,000 after acquiring an additional 192,270 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company’s stock valued at $6,550,975,000 after acquiring an additional 1,433,563 shares during the last quarter. Nordea Investment Management AB increased its position in Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after buying an additional 72,998 shares during the last quarter. Bank of America Corp DE increased its position in Trane Technologies by 9.2% during the third quarter. Bank of America Corp DE now owns 2,422,690 shares of the company’s stock worth $1,022,278,000 after buying an additional 203,766 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Trane Technologies by 2.4% during the third quarter. Legal & General Group Plc now owns 1,880,221 shares of the company’s stock worth $793,378,000 after buying an additional 44,243 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.6%

Shares of NYSE:TT opened at $470.52 on Thursday. Trane Technologies plc has a 12-month low of $348.06 and a 12-month high of $503.47. The stock has a market cap of $104.01 billion, a PE ratio of 36.39, a P/E/G ratio of 2.16 and a beta of 1.25. The business has a 50 day moving average of $449.02 and a 200-day moving average of $428.20. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the company posted $2.45 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Trane Technologies plc will post 14.87 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. Trane Technologies’s payout ratio is currently 32.48%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup boosted their price target on Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Oppenheimer boosted their price target on Trane Technologies from $460.00 to $468.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Wells Fargo & Company boosted their price target on Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price target on the stock. Finally, Evercore assumed coverage on Trane Technologies in a research report on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $505.56.

Insider Transactions at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $268,414.50. Following the completion of the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 53,654 shares of company stock worth $23,269,523. 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.