Principal Financial Group Inc. Has $360.99 Million Stock Position in Trane Technologies plc (NYSE:TT)

Principal Financial Group Inc. decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,071,427 shares of the company's stock after selling 106,029 shares during the period. Principal Financial Group Inc. owned 0.48% of Trane Technologies worth $360,985,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TT. Brighton Jones LLC grew its stake in shares of Trane Technologies by 60.0% in the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company's stock valued at $2,288,000 after buying an additional 2,323 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of Trane Technologies by 41.0% in the fourth quarter. Modera Wealth Management LLC now owns 1,270 shares of the company's stock valued at $469,000 after purchasing an additional 369 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Trane Technologies by 91.1% in the fourth quarter. Jones Financial Companies Lllp now owns 4,706 shares of the company's stock valued at $1,738,000 after purchasing an additional 2,243 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Trane Technologies by 4.1% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,067 shares of the company's stock worth $385,000 after buying an additional 42 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in Trane Technologies during the 4th quarter worth approximately $236,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. boosted their price objective on Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Citigroup raised their price target on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Hsbc Global Res raised Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Royal Bank Of Canada boosted their price target on Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $430.13.

Trane Technologies Price Performance

Shares of TT traded up $6.93 during trading hours on Friday, hitting $439.64. The stock had a trading volume of 1,182,309 shares, compared to its average volume of 1,333,717. The stock has a market capitalization of $98.05 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 2.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74. The company's fifty day moving average is $418.47 and its two-hundred day moving average is $378.93. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $438.15.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's dividend payout ratio (DPR) is currently 31.28%.

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.