Meeder Advisory Services Inc. Sells 1,099 Shares of Trane Technologies plc (NYSE:TT)

Meeder Advisory Services Inc. lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,746 shares of the company’s stock after selling 1,099 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Trane Technologies were worth $2,622,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Trust Point Inc. grew its stake in Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the period. First Pacific Financial grew its stake in Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the period. Greenleaf Trust grew its stake in Trane Technologies by 0.5% in the 3rd quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock valued at $2,275,000 after purchasing an additional 29 shares during the period. Lake Street Advisors Group LLC grew its stake in Trane Technologies by 1.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,896 shares of the company’s stock valued at $737,000 after purchasing an additional 30 shares during the period. Finally, PFG Private Wealth Management LLC grew its stake in Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock valued at $232,000 after purchasing an additional 32 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Trane Technologies in a research note on Friday, September 6th. They set an “overweight” rating and a $425.00 price target for the company. Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. Robert W. Baird cut their price target on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $389.77.

Trane Technologies Stock Performance

NYSE:TT opened at $409.21 on Monday. The business’s 50-day moving average price is $388.09 and its two-hundred day moving average price is $353.31. Trane Technologies plc has a twelve month low of $221.22 and a twelve month high of $421.78. The stock has a market cap of $92.08 billion, a P/E ratio of 37.80, a PEG ratio of 2.58 and a beta of 1.02. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 EPS. As a group, equities analysts predict that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. Trane Technologies’s dividend payout ratio is currently 31.17%.

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.