Meyer Handelman Co. Has $97.17 Million Stock Position in Trane Technologies plc $TT

Meyer Handelman Co. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,274 shares of the company’s stock after selling 1,380 shares during the period. Trane Technologies accounts for about 3.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 4th largest position. Meyer Handelman Co.’s holdings in Trane Technologies were worth $97,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Icon Advisers Inc. Co. bought a new stake in Trane Technologies in the 2nd quarter valued at $26,000. Ameriflex Group Inc. purchased a new position in shares of Trane Technologies during the second quarter valued at about $28,000. Hantz Financial Services Inc. increased its holdings in shares of Trane Technologies by 1,016.7% in the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of Trane Technologies in the first quarter worth about $30,000. Finally, Halbert Hargrove Global Advisors LLC boosted its stake in Trane Technologies by 34.2% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after buying an additional 26 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares in the company, valued at $3,145,120. This trade represents a 7.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Trane Technologies Price Performance

Shares of TT stock opened at $392.74 on Friday. The firm has a market capitalization of $87.09 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.27 and a beta of 1.19. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.20. The stock has a 50 day moving average price of $412.67 and a 200 day moving average price of $421.53.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.08. Trane Technologies had a return on equity of 37.04% and a net margin of 13.93%.The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the firm earned $3.37 earnings per share. Trane Technologies’s revenue was up 5.5% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. As a group, sell-side analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is currently 28.92%.

Analyst Upgrades and Downgrades

TT has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on Trane Technologies from $467.00 to $469.00 and gave the stock a “sector perform” rating in a report on Friday, October 31st. Citigroup upped their price target on shares of Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research note on Friday, October 31st. KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Monday, December 15th. Barclays upped their target price on shares of Trane Technologies from $485.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $469.40.

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.