Principal Financial Group Inc. Sells 4,419 Shares of Trane Technologies plc (NYSE:TT)

Principal Financial Group Inc. lessened its position in Trane Technologies plc (NYSE:TT) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.54% of Trane Technologies worth $478,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Trust Point Inc. grew its stake in shares of Trane Technologies by 3.1% during the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares during the last quarter. First Pacific Financial grew its stake in shares of Trane Technologies by 1.1% during the third quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust grew its stake in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after buying an additional 29 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Trane Technologies by 1.6% during the third quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after buying an additional 30 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its stake in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE TT opened at $391.88 on Thursday. Trane Technologies plc has a twelve month low of $214.35 and a twelve month high of $406.96. The firm has a market cap of $88.18 billion, a P/E ratio of 36.35, a PEG ratio of 2.39 and a beta of 1.02. The company has a 50 day moving average of $379.11 and a 200 day moving average of $347.42. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $2.79 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is presently 31.17%.

Analyst Ratings Changes

Several analysts recently issued reports on TT shares. Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Robert W. Baird cut their target price 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. Mizuho raised their target price on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $380.15.

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.