Meridian Wealth Management LLC Purchases 1,636 Shares of Trane Technologies plc $TT

Meridian Wealth Management LLC grew its position in shares of Trane Technologies plc (NYSE:TT) by 290.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,199 shares of the company’s stock after acquiring an additional 1,636 shares during the quarter. Meridian Wealth Management LLC’s holdings in Trane Technologies were worth $928,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Icon Advisers Inc. Co. bought a new stake in shares of Trane Technologies in the 2nd quarter worth about $26,000. Financial Consulate Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new position in shares of Trane Technologies in the 2nd quarter worth approximately $28,000. Hantz Financial Services Inc. raised its holdings in Trane Technologies by 1,016.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the period. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock worth $43,000 after buying an additional 26 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

TT has been the topic of several recent analyst reports. Barclays increased their target price on shares of Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Trane Technologies from $375.00 to $400.00 and gave the stock an “underweight” rating in a research note on Friday. Bank of America upgraded Trane Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Finally, Oppenheimer boosted their price objective on Trane Technologies from $460.00 to $468.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $484.67.

Trane Technologies Stock Up 1.0%

Shares of NYSE:TT opened at $424.91 on Tuesday. The business’s 50 day moving average is $396.53 and its 200 day moving average is $414.47. The stock has a market cap of $94.22 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $476.18. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.Trane Technologies’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.61 EPS. Sell-side analysts predict that Trane Technologies plc will post 12.83 EPS for the current year.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.