Meridian Wealth Advisors LLC Has $5.27 Million Holdings in Trane Technologies plc (NYSE:TT)

Meridian Wealth Advisors LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,593 shares of the company’s stock after buying an additional 481 shares during the period. Trane Technologies comprises approximately 1.2% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Meridian Wealth Advisors LLC’s holdings in Trane Technologies were worth $5,266,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Everpar Advisors LLC acquired a new stake in Trane Technologies in the fourth quarter valued at $485,000. Barlow Wealth Partners Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at $1,800,000. Charles Schwab Investment Management Inc. increased its holdings in Trane Technologies by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,229,434 shares of the company’s stock valued at $299,859,000 after purchasing an additional 21,096 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Trane Technologies by 24.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,705 shares of the company’s stock valued at $416,000 after purchasing an additional 335 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in Trane Technologies by 47.2% in the fourth quarter. Apollon Wealth Management LLC now owns 5,498 shares of the company’s stock valued at $1,341,000 after purchasing an additional 1,763 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Trane Technologies Price Performance

Shares of NYSE TT opened at $327.86 on Thursday. Trane Technologies plc has a fifty-two week low of $162.04 and a fifty-two week high of $329.14. The stock has a market cap of $74.21 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.54 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The firm’s 50-day simple moving average is $297.50 and its 200 day simple moving average is $260.63.

Trane Technologies (NYSE:TT) last posted its earnings results on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, research analysts anticipate that Trane Technologies plc will post 10.48 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insiders Place Their Bets

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 transaction of $813,378.93. Following the completion of the sale, the senior vice president now owns 20,729 shares in the company, valued at approximately $5,976,792.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Paul A. Camuti sold 508 shares of Trane Technologies stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the completion of the transaction, the executive vice president now directly owns 89,447 shares in the company, valued at approximately $24,449,442.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.33, for a total transaction of $813,378.93. Following the completion of the transaction, the senior vice president now owns 20,729 shares of the company’s stock, valued at $5,976,792.57. The disclosure for this sale can be found here. Insiders have sold a total of 26,254 shares of company stock valued at $7,484,643 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent research reports. Citigroup increased their price objective on Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird increased their price target on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Mizuho increased their price target on Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their price target on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Stephens increased their price target on Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $300.54.

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.