Meeder Asset Management Inc. Sells 17,420 Shares of Trane Technologies plc (NYSE:TT)

Meeder Asset Management Inc. cut its position in Trane Technologies plc (NYSE:TT - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,332 shares of the company's stock after selling 17,420 shares during the period. Meeder Asset Management Inc.'s holdings in Trane Technologies were worth $3,008,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Wellington Management Group LLP raised its stake in shares of Trane Technologies by 36.4% in the third quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company's stock worth $332,581,000 after acquiring an additional 436,997 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in shares of Trane Technologies by 2.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company's stock worth $765,000 after acquiring an additional 64 shares during the last quarter. Graypoint LLC raised its stake in shares of Trane Technologies by 46.0% in the third quarter. Graypoint LLC now owns 2,043 shares of the company's stock worth $414,000 after acquiring an additional 644 shares during the last quarter. Invera Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the fourth quarter worth approximately $4,097,000. Finally, Keybank National Association OH raised its stake in shares of Trane Technologies by 3.2% during the third quarter. Keybank National Association OH now owns 24,352 shares of the company's stock worth $4,941,000 after buying an additional 756 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company's stock, valued at $17,673,237.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Evan M. Turtz sold 2,821 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the sale, the senior vice president now directly owns 20,729 shares in the company, valued at approximately $5,976,792.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher J. Kuehn sold 3,762 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the completion of the sale, the chief financial officer now owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,874 shares of company stock valued at $8,462,825. 0.39% of the stock is owned by company insiders.

Trane Technologies Stock Performance

NYSE TT traded down $0.83 on Monday, hitting $303.84. 673,406 shares of the stock were exchanged, compared to its average volume of 1,019,086. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The business's fifty day moving average is $283.96 and its 200 day moving average is $244.90. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $306.98. The company has a market capitalization of $68.99 billion, a PE ratio of 34.57, a P/E/G ratio of 2.57 and a beta of 1.05.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 earnings per share. Research analysts anticipate that Trane Technologies plc will post 10.19 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, June 6th. Trane Technologies's dividend payout ratio is 38.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Royal Bank of Canada upped their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a "sector perform" rating in a research note on Friday, February 2nd. Citigroup upped their price target on shares of Trane Technologies from $309.00 to $355.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the company an "underweight" rating in a report on Tuesday, December 19th. Finally, Barclays upped their price target on shares of Trane Technologies from $286.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $246.54.

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.