Trane Technologies plc $TT is Meyer Handelman Co.’s 4th Largest Position

Meyer Handelman Co. trimmed its holdings in shares of Trane Technologies plc (NYSE:TT) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 230,274 shares of the company’s stock after selling 1,380 shares during the period. Trane Technologies makes up about 3.1% of Meyer Handelman Co.’s investment portfolio, making the stock its 4th largest holding. Meyer Handelman Co. owned 0.10% of Trane Technologies worth $97,166,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Trane Technologies by 60.0% during the fourth quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Trane Technologies by 38.5% during the 1st quarter. BNP Paribas Financial Markets now owns 517,426 shares of the company’s stock valued at $174,331,000 after acquiring an additional 143,799 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in shares of Trane Technologies by 4.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 13,782 shares of the company’s stock valued at $4,643,000 after acquiring an additional 580 shares during the last quarter. State of Wyoming grew its stake in shares of Trane Technologies by 100.4% in the first quarter. State of Wyoming now owns 1,982 shares of the company’s stock worth $668,000 after acquiring an additional 993 shares during the period. Finally, WPG Advisers LLC bought a new position in Trane Technologies during the first quarter valued at approximately $68,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

TT has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays lifted their price objective on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Bank of America raised Trane Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $490.00 to $550.00 in a report on Thursday, November 13th. Royal Bank Of Canada boosted their price target on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Finally, KeyCorp upgraded shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective on the stock in a research note on Monday, December 15th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and a consensus price target of $469.40.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the stock in a transaction on Thursday, October 30th. The stock was 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 owned 7,148 shares in the company, valued at approximately $3,145,120. This represents a 7.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Trane Technologies Stock Down 0.1%

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

Trane Technologies (NYSE:TT) last released its earnings results 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 net margin of 13.93% and a return on equity of 37.04%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the prior year, the firm posted $3.37 EPS. The firm’s quarterly 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. On average, equities research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

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

Trane Technologies Company 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.