Principal Securities Inc. Boosts Stake in Trane Technologies plc (NYSE:TT)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Trane Technologies by 1.8% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after acquiring an additional 27 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in shares of Trane Technologies by 1.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after acquiring an additional 28 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Trane Technologies by 0.5% in the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after acquiring an additional 29 shares in the last quarter. First Citizens Financial Corp boosted its holdings in shares of Trane Technologies by 4.6% in the fourth quarter. First Citizens Financial Corp now owns 656 shares of the company’s stock valued at $242,000 after acquiring an additional 29 shares in the last quarter. Finally, Catalina Capital Group LLC boosted its holdings in shares of Trane Technologies by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 924 shares of the company’s stock valued at $341,000 after acquiring an additional 29 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Christopher J. Kuehn sold 770 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares in the company, valued at approximately $22,299,384.19. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Stock Up 0.6 %

TT stock opened at $363.58 on Tuesday. Trane Technologies plc has a 12-month low of $270.50 and a 12-month high of $422.00. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. The company has a market cap of $81.81 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.44 and a beta of 1.05. The company has a 50 day moving average of $377.68 and a two-hundred day moving average of $379.00.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.94 dividend. This is an increase from Trane Technologies’s previous quarterly dividend of $0.84. The ex-dividend date is Friday, March 7th. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s dividend payout ratio is presently 29.87%.

Wall Street Analyst Weigh In

TT has been the subject of a number of research reports. Citigroup reduced their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. Northcoast Research initiated coverage on shares of Trane Technologies in a report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Royal Bank of Canada raised their target price on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Robert W. Baird reduced their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $415.25.

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.