Trane Technologies plc (NYSE:TT) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC decreased its position in Trane Technologies plc (NYSE:TT) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,368 shares of the company’s stock after selling 639 shares during the quarter. Trane Technologies comprises about 1.4% of Meridian Wealth Advisors LLC’s holdings, making the stock its 18th largest position. Meridian Wealth Advisors LLC’s holdings in Trane Technologies were worth $8,262,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in shares of Trane Technologies by 1,314.3% during the 4th quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after acquiring an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $37,000. Golden State Wealth Management LLC acquired a new position in shares of Trane Technologies during the 4th quarter valued at about $39,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Trane Technologies during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 876 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.42, for a total transaction of $313,099.92. Following the transaction, the chief financial officer now directly owns 63,841 shares of the company’s stock, valued at approximately $22,818,050.22. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the transaction, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,234 shares of company stock valued at $2,588,102. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

TT has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Melius Research restated a “hold” rating and issued a $398.00 price target on shares of Trane Technologies in a report on Tuesday, January 28th. Finally, Citigroup decreased their price target on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $413.69.

Trane Technologies Stock Performance

TT stock opened at $347.30 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $77.90 billion, a P/E ratio of 30.87, a P/E/G ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a 12-month low of $286.32 and a 12-month high of $422.00. The stock’s 50 day simple moving average is $361.24 and its 200 day simple moving average is $379.75.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, equities research analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $0.94 per share. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, March 7th. Trane Technologies’s dividend payout ratio is currently 33.42%.

Trane Technologies 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.