Meridian Wealth Management LLC Acquires 1,636 Shares of Trane Technologies plc $TT

Meridian Wealth Management LLC boosted its holdings in Trane Technologies plc (NYSE:TT) by 290.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,199 shares of the company’s stock after purchasing an additional 1,636 shares during the quarter. Meridian Wealth Management LLC’s holdings in Trane Technologies were worth $928,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Icon Advisers Inc. Co. purchased a new stake in shares of Trane Technologies in the second quarter worth $26,000. Financial Consulate Inc. bought a new position in Trane Technologies in the 3rd quarter worth about $25,000. Ameriflex Group Inc. purchased a new stake in Trane Technologies during the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. increased its stake in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its holdings in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TT. UBS Group decreased their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a report on Monday, January 5th. Barclays boosted their price target on Trane Technologies from $505.00 to $507.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley dropped their price objective on Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research report on Wednesday, January 7th. Finally, KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trane Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Trane Technologies Stock Performance

TT opened at $424.91 on Tuesday. Trane Technologies plc has a 12-month low of $298.15 and a 12-month high of $476.18. The company has a market cap of $94.22 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.11 and a beta of 1.21. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $396.53 and its 200 day moving average is $414.47.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.05. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 earnings per share. On average, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.