Meeder Advisory Services Inc. Acquires 1,714 Shares of Trane Technologies plc (NYSE:TT)

Meeder Advisory Services Inc. lifted its holdings in Trane Technologies plc (NYSE:TT) by 28.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,845 shares of the company’s stock after acquiring an additional 1,714 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Trane Technologies were worth $2,580,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TT. Norges Bank bought a new stake in shares of Trane Technologies in the 4th quarter valued at about $655,804,000. Swedbank AB bought a new stake in Trane Technologies in the first quarter valued at approximately $206,211,000. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 719.8% during the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after purchasing an additional 659,299 shares during the period. Putnam Investments LLC grew its holdings in shares of Trane Technologies by 27,824.4% in the fourth quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock worth $139,689,000 after purchasing an additional 570,679 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in shares of Trane Technologies in the fourth quarter worth $77,615,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Price Performance

TT opened at $359.67 on Friday. Trane Technologies plc has a 12-month low of $184.02 and a 12-month high of $363.15. The company has a market cap of $81.17 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $340.41 and a two-hundred day simple moving average of $321.72.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. Trane Technologies’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $2.68 EPS. Research analysts predict that Trane Technologies plc will post 10.87 earnings per share for the current fiscal year.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the completion of the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TT shares. UBS Group increased their price target on shares of Trane Technologies from $330.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Robert W. Baird increased their target price on shares of Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley began coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. Wells Fargo & Company increased their price objective on Trane Technologies from $315.00 to $320.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Stephens reissued an “equal weight” rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $337.29.

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.