Trane Technologies plc $TT is Meyer Handelman Co.’s 8th Largest Position

Meyer Handelman Co. reduced its holdings in shares of Trane Technologies plc (NYSE:TT) by 8.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 209,167 shares of the company’s stock after selling 18,087 shares during the period. Trane Technologies makes up 2.7% of Meyer Handelman Co.’s investment portfolio, making the stock its 8th largest holding. Meyer Handelman Co.’s holdings in Trane Technologies were worth $87,168,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aptus Capital Advisors LLC raised its position in Trane Technologies by 169.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,738 shares of the company’s stock worth $6,219,000 after buying an additional 9,276 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Trane Technologies by 2.9% during the fourth quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company’s stock worth $1,010,419,000 after acquiring an additional 72,998 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Trane Technologies by 64.0% during the fourth quarter. Farther Finance Advisors LLC now owns 7,478 shares of the company’s stock worth $2,911,000 after acquiring an additional 2,917 shares during the period. Dara Capital US Inc. purchased a new position in Trane Technologies during the fourth quarter worth about $966,000. Finally, Korea Investment CORP lifted its position in Trane Technologies by 17.5% in the third quarter. Korea Investment CORP now owns 204,695 shares of the company’s stock valued at $86,373,000 after purchasing an additional 30,558 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of analyst reports. Evercore began coverage on Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 target price for the company. KeyCorp increased their price objective on Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays raised their target price on Trane Technologies from $507.00 to $585.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Citigroup boosted their target price on shares of Trane Technologies from $525.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $509.12.

Insider Buying and Selling

In related news, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $500.00, for a total transaction of $2,296,500.00. Following the completion of the transaction, the insider directly owned 3,819 shares in the company, valued at $1,909,500. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Christopher J. Kuehn sold 8,619 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $450.00, for a total value of $3,878,550.00. Following the completion of the sale, the chief financial officer directly owned 60,576 shares in the company, valued at approximately $27,259,200. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.43% of the company’s stock.

Trane Technologies Stock Performance

TT opened at $504.65 on Friday. Trane Technologies plc has a 1-year low of $348.06 and a 1-year high of $505.87. The stock has a market cap of $111.55 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.23 and a beta of 1.20. The stock’s 50 day simple moving average is $469.58 and its 200 day simple moving average is $437.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77.

Trane Technologies (NYSE:TT) last posted its earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.10. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. During the same period in the previous year, the business earned $2.45 earnings per share. Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Trane Technologies plc will post 14.88 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.20 annualized dividend and a dividend yield of 0.8%. Trane Technologies’s dividend payout ratio is currently 32.48%.

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.