Meeder Advisory Services Inc. Has $2.62 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Meeder Advisory Services Inc. cut its holdings in Trane Technologies plc (NYSE:TT) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,746 shares of the company’s stock after selling 1,099 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Trane Technologies were worth $2,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TT. MidAtlantic Capital Management Inc. acquired a new position in Trane Technologies during the 3rd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies during the 3rd quarter worth approximately $36,000. Fortitude Family Office LLC boosted its position in Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. Finally, Quarry LP acquired a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group assumed coverage on Trane Technologies in a research note on Wednesday, November 13th. They issued a “buy” rating and a $500.00 price target on the stock. Mizuho increased their price target on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target on the stock. Barclays increased their price objective on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $389.77.

Trane Technologies Price Performance

Trane Technologies stock opened at $409.21 on Monday. The stock’s 50 day moving average is $388.09 and its 200 day moving average is $353.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. The firm has a market cap of $92.08 billion, a P/E ratio of 37.80, a P/E/G ratio of 2.58 and a beta of 1.02. Trane Technologies plc has a one year low of $221.22 and a one year high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, research analysts expect that Trane Technologies plc will post 11.13 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 31.17%.

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.