Scotia Capital Inc. Has $4.38 Million Position in Trane Technologies plc $TT

Scotia Capital Inc. raised its stake in Trane Technologies plc (NYSE:TT) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,021 shares of the company’s stock after buying an additional 261 shares during the quarter. Scotia Capital Inc.’s holdings in Trane Technologies were worth $4,382,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new position in shares of Trane Technologies in the second quarter worth $28,000. Hantz Financial Services Inc. increased its position in Trane Technologies by 1,016.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Trane Technologies during the 1st quarter worth about $30,000. Dagco Inc. acquired a new stake in shares of Trane Technologies during the 1st quarter valued at about $37,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Trane Technologies by 23.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CAO Elizabeth A. Elwell sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at $50,722,330. This represents a 15.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT opened at $421.75 on Friday. The company has a market capitalization of $93.52 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.66 and a beta of 1.16. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. The company’s fifty day moving average price is $421.00 and its 200 day moving average price is $425.91.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.08. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.80 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.37 earnings per share. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 dividend on an annualized basis and a yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 28.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TT. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $410.00 to $415.00 and gave the company an “underweight” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price target on shares of Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $490.00 to $550.00 in a research note on Thursday, November 13th. Citigroup increased their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $470.07.

About Trane Technologies

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.