Principal Securities Inc. Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Principal Securities Inc. raised its holdings in Trane Technologies plc (NYSE:TT) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,584 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Principal Securities Inc.’s holdings in Trane Technologies were worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. bLong Financial LLC purchased a new stake in Trane Technologies in the 4th quarter valued at approximately $443,000. Everhart Financial Group Inc. lifted its position in shares of Trane Technologies by 3.6% during the 4th quarter. Everhart Financial Group Inc. now owns 2,608 shares of the company’s stock valued at $963,000 after acquiring an additional 91 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in shares of Trane Technologies by 4.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,312 shares of the company’s stock valued at $3,070,000 after acquiring an additional 352 shares during the period. Center for Financial Planning Inc. lifted its position in shares of Trane Technologies by 1.6% during the 4th quarter. Center for Financial Planning Inc. now owns 2,120 shares of the company’s stock valued at $783,000 after acquiring an additional 34 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in shares of Trane Technologies by 2.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 2,017 shares of the company’s stock valued at $745,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Trading Up 0.6 %

Shares of TT opened at $363.58 on Tuesday. The stock has a fifty day moving average of $377.68 and a two-hundred day moving average of $379.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $81.81 billion, a PE ratio of 32.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.05. Trane Technologies plc has a fifty-two week low of $270.50 and a fifty-two week high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. As a group, analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Trane Technologies’s payout ratio is currently 29.87%.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 876 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.42, for a total transaction of $313,099.92. Following the completion of the sale, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at $22,818,050.22. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 198 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,563 shares of company stock valued at $4,388,966 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TT. Barclays lifted their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Melius Research reiterated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price objective on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $415.25.

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.