Bank of Nova Scotia Has $71.83 Million Stake in Trane Technologies plc $TT

Bank of Nova Scotia lowered its stake in Trane Technologies plc (NYSE:TT) by 37.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,368 shares of the company’s stock after selling 105,218 shares during the period. Bank of Nova Scotia owned 0.08% of Trane Technologies worth $71,833,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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. State Street Corp raised its holdings in Trane Technologies by 0.6% during the 4th quarter. State Street Corp now owns 10,113,123 shares of the company’s stock worth $3,936,034,000 after purchasing an additional 61,393 shares during the last quarter. Geode Capital Management LLC lifted its position in Trane Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,071,072 shares of the company’s stock valued at $1,964,896,000 after purchasing an additional 14,179 shares during the period. Norges Bank bought a new position in shares of Trane Technologies in the 4th quarter valued at about $1,163,124,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Trane Technologies by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,340,219 shares of the company’s stock worth $910,813,000 after buying an additional 7,537 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the firm’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 transaction of $2,296,500.00. Following the sale, the insider directly owned 3,819 shares in the company, valued at approximately $1,909,500. This trade represents a 54.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Trane Technologies Price Performance

TT opened at $480.56 on Friday. The stock has a market cap of $106.23 billion, a P/E ratio of 37.17, a P/E/G ratio of 2.18 and a beta of 1.19. Trane Technologies plc has a 12 month low of $348.06 and a 12 month high of $505.87. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $469.84 and a 200 day simple moving average of $449.65.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. The firm had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share. On average, research analysts expect that Trane Technologies plc will post 14.89 EPS for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. Trane Technologies’s dividend payout ratio is presently 32.48%.

Wall Street Analyst Weigh In

TT has been the topic of several analyst reports. Sanford C. Bernstein set a $555.00 price objective on shares of Trane Technologies in a report on Thursday, July 9th. Evercore started coverage on Trane Technologies in a research report on Monday, April 13th. They issued an “outperform” rating and a $535.00 price target on the stock. BNP Paribas Exane started coverage on Trane Technologies in a report on Tuesday, April 14th. They issued an “outperform” rating and a $550.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research note on Friday, July 17th. Finally, KeyCorp boosted their target price on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $516.67.

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.