Trane Technologies plc (NYSE:TT) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,303 shares of the company's stock after selling 5,257 shares during the quarter. Trane Technologies makes up 2.9% of Meyer Handelman Co.'s holdings, making the stock its 6th biggest position. Meyer Handelman Co. owned about 0.11% of Trane Technologies worth $83,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TT. Fulcrum Capital LLC raised its position in shares of Trane Technologies by 0.4% in the first quarter. Fulcrum Capital LLC now owns 42,046 shares of the company's stock valued at $14,166,000 after buying an additional 163 shares in the last quarter. GoalVest Advisory LLC increased its holdings in Trane Technologies by 93.3% in the 1st quarter. GoalVest Advisory LLC now owns 174 shares of the company's stock worth $59,000 after purchasing an additional 84 shares in the last quarter. GAMMA Investing LLC raised its holdings in Trane Technologies by 35,458.2% in the 1st quarter. GAMMA Investing LLC now owns 2,015,792 shares of the company's stock valued at $679,161,000 after buying an additional 2,010,123 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of Trane Technologies by 6.4% in the first quarter. AdvisorNet Financial Inc now owns 818 shares of the company's stock worth $276,000 after purchasing an additional 49 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Trane Technologies by 52.5% during the 1st quarter. Versant Capital Management Inc now owns 924 shares of the company's stock worth $311,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.0%

TT stock traded up $0.06 during midday trading on Monday, reaching $430.33. 885,030 shares of the company's stock traded hands, compared to its average volume of 1,353,255. The company has a market cap of $95.97 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 2.50 and a beta of 1.14. The firm's fifty day moving average price is $373.99 and its 200-day moving average price is $375.52. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $436.61. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.25. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The company's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, June 6th. Trane Technologies's dividend payout ratio (DPR) is presently 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TT shares. Wells Fargo & Company raised their price objective on Trane Technologies from $330.00 to $370.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank of Canada increased their price objective on shares of Trane Technologies from $363.00 to $408.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Trane Technologies from $334.00 to $400.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, UBS Group increased their price target on Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.47.

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.