Meridian Wealth Management LLC Acquires New Position in Trane Technologies plc (NYSE:TT)

Meridian Wealth Management LLC acquired a new stake in Trane Technologies plc (NYSE:TT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 640 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds have also added to or reduced their stakes in TT. Swedbank AB increased its stake in Trane Technologies by 2.8% in the third quarter. Swedbank AB now owns 743,794 shares of the company’s stock valued at $289,135,000 after acquiring an additional 20,400 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in Trane Technologies in the third quarter valued at approximately $39,000. Catalina Capital Group LLC increased its stake in Trane Technologies by 10.9% in the third quarter. Catalina Capital Group LLC now owns 895 shares of the company’s stock valued at $348,000 after acquiring an additional 88 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Trane Technologies by 7.9% in the third quarter. Concurrent Investment Advisors LLC now owns 9,114 shares of the company’s stock valued at $3,543,000 after acquiring an additional 668 shares during the last quarter. Finally, Consilium Wealth Advisory LLC increased its stake in Trane Technologies by 296.2% in the third quarter. Consilium Wealth Advisory LLC now owns 6,315 shares of the company’s stock valued at $2,455,000 after acquiring an additional 4,721 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Trane Technologies Trading Up 1.6 %

NYSE:TT opened at $348.78 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a 50-day moving average of $369.25 and a 200-day moving average of $380.46. The company has a market cap of $78.23 billion, a PE ratio of 31.00, a PEG ratio of 2.50 and a beta of 1.08. Trane Technologies plc has a one year low of $279.00 and a one year high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate 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 research analysts expect that Trane Technologies plc will post 12.83 EPS for the current fiscal 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 issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. This represents a $3.76 annualized dividend and a yield of 1.08%. Trane Technologies’s payout ratio is 29.87%.

Analysts Set New Price Targets

TT has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their target price on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Northcoast Research initiated coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 target price on the stock. UBS Group cut their target price on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Citigroup cut their target price on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus target price of $415.25.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now directly owns 62,221 shares in the company, valued at approximately $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David S. Regnery sold 2,754 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total transaction of $984,114.36. Following the transaction, the chief executive officer now owns 132,969 shares in the company, valued at approximately $47,515,142.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,234 shares of company stock worth $2,588,102. 0.38% of the stock is owned by insiders.

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.