Principal Financial Group Inc. cut its stake in Trane Technologies plc (NYSE:TT - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,177,456 shares of the company's stock after selling 54,585 shares during the quarter. Principal Financial Group Inc. owned 0.52% of Trane Technologies worth $434,894,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Trane Technologies by 35,914.4% in the third quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company's stock worth $639,514,000 after purchasing an additional 1,640,569 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Trane Technologies by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company's stock worth $991,460,000 after purchasing an additional 671,691 shares during the period. FMR LLC boosted its position in shares of Trane Technologies by 4.0% in the third quarter. FMR LLC now owns 10,337,672 shares of the company's stock worth $4,018,563,000 after purchasing an additional 397,537 shares during the period. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 42.9% in the fourth quarter. Nordea Investment Management AB now owns 978,275 shares of the company's stock worth $361,874,000 after purchasing an additional 293,916 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Trane Technologies by 76.9% in the third quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company's stock worth $162,175,000 after purchasing an additional 181,335 shares during the period. 82.97% of the stock is currently owned by institutional investors.
Trane Technologies Stock Down 1.0 %
Trane Technologies stock traded down $3.81 during midday trading on Thursday, hitting $366.74. 1,140,128 shares of the company were exchanged, compared to its average volume of 1,495,328. The company's fifty day moving average price is $376.38 and its 200-day moving average price is $379.24. The company has a market cap of $82.26 billion, a PE ratio of 32.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. Trane Technologies plc has a fifty-two week low of $274.77 and a fifty-two week high of $422.00.
Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. On average, research analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.
Trane Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.94 dividend. This is a positive change from Trane Technologies's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Trane Technologies's dividend payout ratio is 29.87%.
Insider Activity
In related news, SVP Mairead Magner sold 198 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company's stock, valued at approximately $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 318 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the transaction, the senior vice president now directly owns 20,513 shares in the company, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,563 shares of company stock worth $4,388,966 over the last 90 days. 0.38% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. UBS Group lowered their target price on shares of Trane Technologies from $500.00 to $470.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered their target price on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a report on Friday, January 31st. Citigroup lowered their target price on shares of Trane Technologies from $478.00 to $476.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Melius downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and set a $398.00 target price on the stock. in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $415.25.
Check Out Our Latest Research Report on Trane Technologies
Trane Technologies Company 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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