Bank of Nova Scotia Purchases 19,772 Shares of Trane Technologies plc (NYSE:TT)

Bank of Nova Scotia boosted its position in shares of Trane Technologies plc (NYSE:TTFree Report) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,706 shares of the company’s stock after acquiring an additional 19,772 shares during the period. Bank of Nova Scotia’s holdings in Trane Technologies were worth $22,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Norges Bank bought a new position in Trane Technologies during the fourth quarter valued at about $655,804,000. International Assets Investment Management LLC boosted its holdings in Trane Technologies by 24,670.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock valued at $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. TD Asset Management Inc boosted its holdings in Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares in the last quarter. Finally, FMR LLC boosted its holdings in Trane Technologies by 12.4% during the third quarter. FMR LLC now owns 5,743,154 shares of the company’s stock valued at $1,165,343,000 after purchasing an additional 632,598 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the transaction, the chief financial officer now owns 61,691 shares in the company, valued at approximately $17,673,237.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders sold a total of 22,979 shares of company stock worth $6,603,372 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 0.8 %

NYSE:TT traded up $2.46 during trading hours on Friday, hitting $327.46. 1,884,474 shares of the stock were exchanged, compared to its average volume of 831,976. The company’s 50 day moving average is $312.18 and its two-hundred day moving average is $275.83. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $338.09. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $74.12 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01.

Trane Technologies (NYSE:TTGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Trane Technologies plc will post 10.46 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TT. Citigroup lifted their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Mizuho lifted their price objective on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Stephens lifted their price objective on Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Barclays boosted their target price on Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $300.54.

Get Our Latest Analysis on Trane Technologies

Trane Technologies Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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