Meridian Wealth Management LLC Buys Shares of 640 Trane Technologies plc (NYSE:TT)

Meridian Wealth Management LLC bought a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 640 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in Trane Technologies in the third quarter valued at about $27,000. Global Wealth Strategies & Associates purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after buying an additional 92 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in shares of Trane Technologies during the 3rd quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $39,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of Trane Technologies stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total transaction of $113,882.16. Following the sale, the senior vice president now owns 20,513 shares of the company’s stock, valued at approximately $7,346,115.56. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mairead Magner sold 198 shares of Trane Technologies stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now directly owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $348.78 on Thursday. The company’s fifty day moving average price is $369.25 and its 200-day moving average price is $380.46. The firm has a market capitalization of $78.23 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00. 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 (NYSE:TT) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities research analysts anticipate that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.94 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.08%. Trane Technologies’s dividend payout ratio is 29.87%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TT. Barclays upped their price target on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup dropped their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Melius lowered 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $415.25.

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.