Meyer Handelman Co. Lowers Holdings in Trane Technologies plc $TT

Key Points

• Meyer Handelman Co. has reduced its holdings in Trane Technologies plc by 7.1%, owning 231,654 shares after selling 17,649 shares in the 2nd quarter.
• Trane Technologies reported an earnings per share (EPS) of $3.88 for the last quarter, beating analysts' expectations of $3.79, while revenue increased by 7.6% year-over-year.
• Multiple institutional investors have adjusted their stakes in Trane Technologies, with a majority of 82.97% of the company’s stock now held by institutional investors.

Meyer Handelman Co. lowered its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,654 shares of the company's stock after selling 17,649 shares during the period. Trane Technologies makes up about 3.3% of Meyer Handelman Co.'s holdings, making the stock its 4th biggest position. Meyer Handelman Co. owned about 0.10% of Trane Technologies worth $101,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Old North State Wealth Management LLC raised its position in shares of Trane Technologies by 5.2% in the second quarter. Old North State Wealth Management LLC now owns 1,279 shares of the company's stock valued at $561,000 after purchasing an additional 63 shares during the period. Dakota Wealth Management lifted its stake in Trane Technologies by 5.4% in the 2nd quarter. Dakota Wealth Management now owns 978 shares of the company's stock worth $428,000 after purchasing an additional 50 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Trane Technologies by 22.3% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,502 shares of the company's stock worth $1,094,000 after purchasing an additional 457 shares in the last quarter. Retireful LLC purchased a new stake in Trane Technologies in the 2nd quarter worth approximately $302,000. Finally, TD Private Client Wealth LLC lifted its stake in Trane Technologies by 7.0% in the 2nd quarter. TD Private Client Wealth LLC now owns 8,437 shares of the company's stock worth $3,690,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Up 0.6%

TT opened at $406.70 on Friday. The stock has a market cap of $90.50 billion, a PE ratio of 32.25, a P/E/G ratio of 2.51 and a beta of 1.10. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The business's fifty day simple moving average is $425.64 and its 200 day simple moving average is $403.07.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the prior year, the firm earned $3.30 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 22,497 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the transaction, the chief executive officer owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup lowered their target price on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. UBS Group increased their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Barclays lowered their target price on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 16th. Wells Fargo & Company increased their target price on shares of Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, Morgan Stanley increased their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $457.40.

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.

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