Meeder Advisory Services Inc. Grows Position in Trane Technologies plc (NYSE:TT)

Key Points

• Meeder Advisory Services Inc. increased its stake in Trane Technologies plc by 10.6% during the first quarter, holding 7,749 shares worth approximately $2.61 million.
• Trane Technologies reported a Q1 EPS of $2.45, beating analyst estimates of $2.20, and its revenue rose by 11.2% year-over-year to $4.69 billion.
• The company announced a quarterly dividend of $0.94 per share, with an annualized yield of 0.80% and a payout ratio of 31.28%.

Meeder Advisory Services Inc. lifted its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,749 shares of the company's stock after buying an additional 745 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Trane Technologies were worth $2,611,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% in the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock valued at $25,000 after buying an additional 50 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies during the 4th quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth about $31,000. Finally, Bogart Wealth LLC raised its position in shares of Trane Technologies by 97.9% in the first quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Trane Technologies Stock Down 0.3%

TT traded down $1.30 during mid-day trading on Friday, reaching $436.78. 711,230 shares of the stock were exchanged, compared to its average volume of 1,495,115. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.74 and a current ratio of 1.10. The stock has a market capitalization of $97.41 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a 50 day moving average price of $435.26 and a two-hundred day moving average price of $388.22. Trane Technologies plc has a 1 year low of $298.15 and a 1 year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.30 EPS. As a group, research analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 29.82%.

Analyst Ratings Changes

A number of research firms recently commented on TT. Wells Fargo & Company raised their price target on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Morgan Stanley raised their price objective on shares of Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday. Hsbc Global Res lowered shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a report on Thursday. Stephens upgraded shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 price target for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group upped their target price on Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $455.67.

Trane Technologies Company 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.