Scotia Capital Inc. Acquires 2,291 Shares of Trane Technologies plc (NYSE:TT)

Scotia Capital Inc. boosted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,340 shares of the company's stock after acquiring an additional 2,291 shares during the quarter. Scotia Capital Inc.'s holdings in Trane Technologies were worth $3,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company's stock worth $7,104,658,000 after buying an additional 152,353 shares during the period. Geode Capital Management LLC grew its position in Trane Technologies by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company's stock valued at $1,760,549,000 after purchasing an additional 136,349 shares in the last quarter. Norges Bank acquired a new position in Trane Technologies in the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. purchased a new position in shares of Trane Technologies during the 4th quarter valued at $611,322,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Trane Technologies by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,248,083 shares of the company's stock valued at $460,980,000 after purchasing an additional 21,678 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TT. Barclays lowered their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group decreased their price target on Trane Technologies from $500.00 to $470.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Melius Research reaffirmed a "hold" rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of "Hold" and an average target price of $405.31.

Trane Technologies Price Performance

NYSE TT traded up $2.69 on Friday, reaching $333.33. The company's stock had a trading volume of 2,243,922 shares, compared to its average volume of 1,297,823. Trane Technologies plc has a 52 week low of $286.32 and a 52 week high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $345.60 and a 200 day moving average price of $375.21. The firm has a market cap of $74.76 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, June 6th. Trane Technologies's payout ratio is currently 33.42%.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now owns 13,401 shares in the company, valued at approximately $4,792,331.61. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.12, for a total transaction of $113,882.16. Following the transaction, the senior vice president now owns 20,513 shares in the company, valued at $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,234 shares of company stock valued at $2,588,102 in the last three months. Corporate 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.