Meeder Asset Management Inc. Acquires 84 Shares of Trane Technologies plc (NYSE:TT)

Meeder Asset Management Inc. increased its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,408 shares of the company’s stock after buying an additional 84 shares during the quarter. Meeder Asset Management Inc.’s holdings in Trane Technologies were worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock worth $7,104,658,000 after purchasing an additional 152,353 shares during the period. State Street Corp raised its position in Trane Technologies by 0.8% in the third quarter. State Street Corp now owns 9,769,161 shares of the company’s stock worth $3,797,565,000 after acquiring an additional 77,830 shares during the period. Geode Capital Management LLC boosted its stake in Trane Technologies by 1.4% in the third quarter. Geode Capital Management LLC now owns 4,638,914 shares of the company’s stock valued at $1,797,700,000 after acquiring an additional 65,991 shares during the last quarter. Norges Bank bought a new position in shares of Trane Technologies during the 4th quarter valued at approximately $1,117,816,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Trane Technologies during the 4th quarter worth approximately $611,322,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total value of $275,960.30. Following the completion of the sale, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Regnery sold 2,318 shares of Trane Technologies stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.17, for a total transaction of $830,238.06. Following the transaction, the chief executive officer now directly owns 126,831 shares in the company, valued at $45,427,059.27. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,234 shares of company stock valued at $2,588,102 over the last 90 days. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TT shares. Royal Bank of Canada upped their price objective on Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. UBS Group decreased their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a report on Friday, January 31st. Barclays dropped their price objective on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company reduced their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $413.69.

Trane Technologies Price Performance

Shares of NYSE TT opened at $331.69 on Monday. The stock’s 50-day simple moving average is $357.83 and its two-hundred day simple moving average is $380.15. Trane Technologies plc has a twelve month low of $286.32 and a twelve month high of $422.00. The firm has a market capitalization of $74.40 billion, a P/E ratio of 29.48, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a $0.94 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.13%. Trane Technologies’s payout ratio is 33.42%.

About Trane Technologies

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.