Meeder Asset Management Inc. Sells 40 Shares of Trane Technologies plc (NYSE:TT)

Meeder Asset Management Inc. decreased its stake in Trane Technologies plc (NYSE:TT) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,368 shares of the company’s stock after selling 40 shares during the period. Meeder Asset Management Inc.’s holdings in Trane Technologies were worth $3,830,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC raised its position in shares of Trane Technologies by 19.2% in the first quarter. CWA Asset Management Group LLC now owns 1,135 shares of the company’s stock valued at $382,000 after purchasing an additional 183 shares during the period. Ethic Inc. raised its position in shares of Trane Technologies by 150.1% in the fourth quarter. Ethic Inc. now owns 24,883 shares of the company’s stock valued at $9,190,000 after purchasing an additional 14,932 shares during the period. Brighton Jones LLC raised its position 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 purchasing an additional 2,323 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Trane Technologies by 495.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,252 shares of the company’s stock valued at $1,433,000 after purchasing an additional 3,538 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Trane Technologies by 13.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,141 shares of the company’s stock valued at $3,417,000 after purchasing an additional 1,198 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the sale, the insider owned 3,593 shares of the company’s stock, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TT. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company upped their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. UBS Group upped their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Royal Bank Of Canada upped their target price on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, May 1st. Finally, HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $405.00 to $415.00 in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $441.40.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $472.45 on Tuesday. The company’s fifty day moving average price is $433.99 and its 200-day moving average price is $386.90. The firm has a market capitalization of $105.37 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 3.07 and a beta of 1.15. Trane Technologies plc has a one year low of $298.15 and a one year high of $476.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.74.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.80%. Trane Technologies’s dividend payout ratio (DPR) is 31.28%.

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.