Trane Technologies plc (NYSE:TT) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in shares of Trane Technologies plc (NYSE:TT) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,118 shares of the company’s stock after selling 6,805 shares during the period. Trane Technologies accounts for 3.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 5th biggest holding. Meyer Handelman Co. owned approximately 0.12% of Trane Technologies worth $87,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TT. Motco acquired a new position in Trane Technologies during the 4th quarter worth $27,000. Sachetta LLC acquired a new position in Trane Technologies during the 4th quarter worth $27,000. GoalVest Advisory LLC increased its holdings in shares of Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Trane Technologies during the 1st quarter worth about $27,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Trane Technologies during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now directly owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,243 shares of company stock worth $14,216,550. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several research reports. UBS Group boosted their price objective on shares of Trane Technologies from $330.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Mizuho boosted their price objective on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TD Cowen boosted their price objective on shares of Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average target price of $323.29.

Trane Technologies Price Performance

Trane Technologies stock traded up $6.51 during trading hours on Tuesday, hitting $339.40. 885,715 shares of the stock were exchanged, compared to its average volume of 1,134,912. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 1.17. The stock has a market capitalization of $76.82 billion, a P/E ratio of 36.26, a P/E/G ratio of 2.50 and a beta of 1.01. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $351.41. The business’s 50-day moving average is $331.90 and its two-hundred day moving average is $310.18.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.08 by $0.22. The firm had revenue of $5.31 billion for 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%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. Equities research analysts expect that Trane Technologies plc will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.99%. Trane Technologies’s payout ratio is 35.90%.

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.