Trane Technologies plc $TT Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 943,056 shares of the company’s stock after selling 16,926 shares during the period. Principal Financial Group Inc.’s holdings in Trane Technologies were worth $393,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Brighton Jones LLC raised its stake in Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after acquiring an additional 2,323 shares during the period. Sivia Capital Partners LLC boosted its stake in Trane Technologies by 22.4% in the second quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock valued at $728,000 after acquiring an additional 305 shares during the period. Schnieders Capital Management LLC. bought a new position in shares of Trane Technologies during the second quarter valued at approximately $227,000. Nebula Research & Development LLC raised its position in shares of Trane Technologies by 178.0% during the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Trane Technologies by 0.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 4,593 shares of the business’s stock in a transaction dated 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. The trade was a 54.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Trading Down 0.0%

Shares of TT stock opened at $479.67 on Tuesday. Trane Technologies plc has a 1 year low of $348.06 and a 1 year high of $505.87. The firm has a market capitalization of $106.03 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. The stock has a fifty day moving average of $469.76 and a two-hundred day moving average of $444.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 14.9 EPS for the current year.

Trane Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TT shares. BNP Paribas Exane began coverage on Trane Technologies in a research note on Tuesday, April 14th. They set an “outperform” rating and a $550.00 price objective for the company. KeyCorp raised their target price on Trane Technologies from $525.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays lifted their price objective on shares of Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $512.50.

About Trane Technologies

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.