Dixon Mitchell Investment Counsel Inc. Purchases Shares of 90 Trane Technologies plc (NYSE:TT)

Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies plc (NYSE:TT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 90 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors also recently bought and sold shares of TT. GSA Capital Partners LLP purchased a new position in Trane Technologies during the fourth quarter worth approximately $3,086,000. Wellington Management Group LLP increased its holdings in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares in the last quarter. Capital World Investors raised its position in Trane Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 2,176,595 shares of the company’s stock worth $530,870,000 after acquiring an additional 11,930 shares during the period. Stifel Financial Corp lifted its holdings in Trane Technologies by 26.8% during the fourth quarter. Stifel Financial Corp now owns 99,611 shares of the company’s stock valued at $24,295,000 after purchasing an additional 21,040 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Trane Technologies by 11.9% in the fourth quarter. Schroder Investment Management Group now owns 322,994 shares of the company’s stock valued at $78,778,000 after purchasing an additional 34,243 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $324.83 on Wednesday. Trane Technologies plc has a 52 week low of $184.02 and a 52 week high of $345.46. The firm has a 50 day moving average of $326.45 and a two-hundred day moving average of $291.61. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $73.53 billion, a PE ratio of 34.70, a P/E/G ratio of 2.55 and a beta of 1.01.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, research analysts predict that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, September 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

Several research firms recently weighed in on TT. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. UBS Group raised their target price on Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. boosted their price target on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays increased their price objective on Trane Technologies from $354.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Mizuho lifted their target price on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $309.79.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of Trane Technologies stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Company 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.