Bank of Nova Scotia Acquires 23,416 Shares of Trane Technologies plc (NYSE:TT)

Bank of Nova Scotia grew its stake in Trane Technologies plc (NYSE:TT - Free Report) by 18.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,386 shares of the company's stock after purchasing an additional 23,416 shares during the quarter. Bank of Nova Scotia owned approximately 0.07% of Trane Technologies worth $54,437,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Tidal Investments LLC lifted its position in Trane Technologies by 22.2% during the third quarter. Tidal Investments LLC now owns 15,827 shares of the company's stock worth $6,152,000 after acquiring an additional 2,874 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Trane Technologies by 16.8% during the third quarter. Synovus Financial Corp now owns 8,828 shares of the company's stock worth $3,431,000 after purchasing an additional 1,271 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Trane Technologies during the 4th quarter worth approximately $468,000. HB Wealth Management LLC boosted its stake in Trane Technologies by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 5,689 shares of the company's stock valued at $2,101,000 after purchasing an additional 711 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Trane Technologies by 31.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,057 shares of the company's stock valued at $10,733,000 after buying an additional 6,910 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently commented on TT. Melius Research restated a "hold" rating and issued a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Barclays decreased their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price target on Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group dropped their price objective on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $409.13.

Trane Technologies Price Performance

Shares of NYSE:TT traded up $2.68 during trading on Monday, hitting $348.49. 313,578 shares of the company were exchanged, compared to its average volume of 1,612,852. Trane Technologies plc has a 1-year low of $286.32 and a 1-year high of $422.00. The company has a market capitalization of $78.16 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $347.12 and its 200-day moving average is $376.38.

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

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.76 dividend on an annualized basis and a yield of 1.08%. Trane Technologies's payout ratio is 33.42%.

Insider Buying and Selling

In other news, CFO Christopher J. Kuehn sold 876 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares in the company, valued at $22,818,050.22. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were 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 owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock valued at $2,588,102 in the last three months. Insiders own 0.38% of the company's stock.

Trane Technologies Profile

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.