Meeder Asset Management Inc. Has $4.21 Million Stock Holdings in Trane Technologies plc (NYSE:TT)

Meeder Asset Management Inc. raised its position in shares of Trane Technologies plc (NYSE:TT) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,408 shares of the company’s stock after purchasing an additional 84 shares during the period. Meeder Asset Management Inc.’s holdings in Trane Technologies were worth $4,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at approximately $1,117,816,000. Raymond James Financial Inc. acquired a new stake in Trane Technologies in the fourth quarter valued at approximately $611,322,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Trane Technologies by 455.2% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 427,226 shares of the company’s stock worth $167,977,000 after buying an additional 350,277 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock valued at $361,874,000 after acquiring an additional 293,916 shares during the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in shares of Trane Technologies during the 4th quarter valued at $98,560,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Stock Performance

Shares of TT stock opened at $331.69 on Monday. The firm has a 50 day moving average of $357.83 and a 200-day moving average of $380.15. The company has a market cap of $74.40 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. 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 plc has a 52 week low of $286.32 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. On average, equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84. Trane Technologies’s dividend payout ratio (DPR) is 33.42%.

Insider Activity

In other news, SVP Mairead Magner sold 198 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the sale, the senior vice president now directly owns 13,401 shares of the company’s stock, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $357.34, for a total value of $984,114.36. Following the transaction, the chief executive officer now directly owns 132,969 shares in the company, valued at approximately $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,234 shares of company stock worth $2,588,102 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TT. JPMorgan Chase & Co. increased their target price on Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Melius Research reiterated a “hold” rating and issued a $398.00 price objective on shares of Trane Technologies in a report on Tuesday, January 28th. Citigroup decreased their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.69.

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.