Trane Technologies plc (NYSE:TT) Stake Lessened by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Trane Technologies plc (NYSE:TTGet Rating) by 8.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,500 shares of the company’s stock after selling 6,054 shares during the period. Bank of Nova Scotia’s holdings in Trane Technologies were worth $8,636,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Trane Technologies by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock worth $3,016,386,000 after buying an additional 2,159,166 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Trane Technologies by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock worth $2,769,040,000 after buying an additional 77,924 shares in the last quarter. Ninety One UK Ltd boosted its holdings in Trane Technologies by 5.8% during the first quarter. Ninety One UK Ltd now owns 2,763,819 shares of the company’s stock worth $422,035,000 after buying an additional 150,960 shares in the last quarter. Capital World Investors boosted its holdings in Trane Technologies by 47.1% during the first quarter. Capital World Investors now owns 2,475,871 shares of the company’s stock worth $378,184,000 after buying an additional 792,225 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Trane Technologies by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,369,107 shares of the company’s stock worth $209,062,000 after buying an additional 93,795 shares in the last quarter. 80.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. Barclays raised their price objective on shares of Trane Technologies from $160.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. Credit Suisse Group raised their price objective on shares of Trane Technologies from $175.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $116.00 to $126.00 and gave the stock an “underweight” rating in a research note on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Trane Technologies from $151.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, October 13th. Finally, Wells Fargo & Company raised their price objective on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an “underweight” rating in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $170.35.

Trane Technologies Stock Down 0.4 %

Trane Technologies stock opened at $176.08 on Monday. The company has a market capitalization of $40.55 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.10 and a beta of 1.00. The firm’s fifty day simple moving average is $154.97 and its 200-day simple moving average is $145.35. The company has a current ratio of 1.14, a quick ratio of 0.78 and a debt-to-equity ratio of 0.65. Trane Technologies plc has a 1-year low of $120.64 and a 1-year high of $204.23.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.52%. Trane Technologies’s dividend payout ratio is currently 38.73%.

Insider Activity

In other news, SVP Mairead Magner sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $165.00, for a total transaction of $165,000.00. Following the transaction, the senior vice president now owns 11,079 shares in the company, valued at approximately $1,828,035. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Trane Technologies Profile

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Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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

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