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

Principal Securities Inc. increased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TT. Cobblestone Capital Advisors LLC NY raised its position in Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company's stock worth $579,000 after purchasing an additional 27 shares during the period. Wescott Financial Advisory Group LLC increased its position 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 during the period. Greenleaf Trust increased its position 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 during the period. First Citizens Financial Corp increased its position 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 during the period. Finally, Catalina Capital Group LLC increased its position 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 during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 3.3 %

NYSE:TT traded down $12.08 during mid-day trading on Friday, hitting $354.56. 1,163,504 shares of the company's stock were exchanged, compared to its average volume of 1,485,568. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The business has a fifty day moving average price of $374.82 and a 200 day moving average price of $379.44. The company has a market cap of $79.52 billion, a PE ratio of 31.52, a P/E/G ratio of 2.53 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, March 7th. This is an increase from Trane Technologies's previous quarterly dividend of $0.84. Trane Technologies's dividend payout ratio is currently 29.87%.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David S. Regnery sold 2,754 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares of the company's stock, valued at $47,515,142.46. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,563 shares of company stock worth $4,388,966. Corporate insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TT shares. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $387.00 to $396.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Northcoast Research started coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a "buy" rating and a $500.00 price objective on the stock. Melius Research restated a "hold" rating and issued a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays boosted their price objective 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. Finally, Robert W. Baird decreased their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $415.25.

Trane Technologies 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.