Principal Financial Group Inc. trimmed its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,232,041 shares of the company's stock after selling 4,419 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Trane Technologies worth $478,932,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Norden Group LLC acquired a new position in Trane Technologies during the 1st quarter valued at about $646,000. SPC Financial Inc. acquired a new position in Trane Technologies during the 1st quarter valued at approximately $209,000. Advisory Alpha LLC purchased a new position in shares of Trane Technologies in the first quarter worth $201,000. Manchester Capital Management LLC grew its holdings in shares of Trane Technologies by 102.7% during the first quarter. Manchester Capital Management LLC now owns 1,423 shares of the company's stock valued at $427,000 after buying an additional 721 shares during the last quarter. Finally, Duality Advisers LP acquired a new position in shares of Trane Technologies in the 1st quarter valued at $331,000. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Price Performance
NYSE TT traded up $4.06 during trading hours on Thursday, hitting $395.92. 975,678 shares of the company's stock traded hands, compared to its average volume of 1,112,496. Trane Technologies plc has a 52-week low of $219.68 and a 52-week high of $406.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The company has a market capitalization of $89.09 billion, a PE ratio of 36.56, a PEG ratio of 2.39 and a beta of 1.02. The firm's 50-day moving average is $379.90 and its 200-day moving average is $347.73.
Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. Equities analysts forecast that Trane Technologies plc will post 11.13 EPS for the current fiscal year.
Trane Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.85%. Trane Technologies's payout ratio is 31.17%.
Analyst Upgrades and Downgrades
TT has been the topic of several research analyst reports. Robert W. Baird dropped their price target on Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Trane Technologies from $334.00 to $350.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 price objective for the company. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $380.15.
Read Our Latest Analysis on Trane Technologies
Trane Technologies Profile
(
Free Report)
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.
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