Fenimore Asset Management Inc Sells 22,206 Shares of Trane Technologies plc $TT

Key Points

• Fenimore Asset Management reduced its Trane Technologies stake by 6.8%, selling 22,206 shares and retaining 303,706 shares valued at approximately $137.3 million. Institutional investors collectively own 82.97% of the company.
• Analysts maintain a generally positive view, with Trane Technologies receiving an average “Buy” rating and a consensus price target of $531.21; recent opinions included Wells Fargo’s “overweight” rating and Wall Street Zen’s downgrade to “hold.”
• Trane Technologies reported quarterly revenue of $6.35 billion and adjusted EPS of $4.31, exceeding estimates, while revenue rose 10.6% year over year. The company also declared a quarterly dividend of $1.05, equivalent to a 0.9% annualized yield.

Fenimore Asset Management Inc cut its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,706 shares of the company's stock after selling 22,206 shares during the period. Trane Technologies comprises approximately 3.0% of Fenimore Asset Management Inc's holdings, making the stock its 11th largest holding. Fenimore Asset Management Inc owned approximately 0.14% of Trane Technologies worth $137,269,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Wilkerson Advisory Group LLC grew its holdings in shares of Trane Technologies by 136.0% during the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Trane Technologies in the fourth quarter valued at about $32,000. Elevation Wealth Partners LLC lifted its position in Trane Technologies by 153.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 66 shares of the company's stock worth $32,000 after buying an additional 40 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in Trane Technologies by 192.6% during the 1st quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new stake in Trane Technologies in the 1st quarter valued at about $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TT. Citigroup reduced their target price on shares of Trane Technologies from $570.00 to $566.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Royal Bank Of Canada reduced their price objective on Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating on the stock in a report on Friday, July 31st. Wall Street Zen downgraded Trane Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, August 30th. Weiss Ratings upgraded Trane Technologies from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, September 10th. Finally, Wells Fargo & Company began coverage on Trane Technologies in a report on Friday, September 25th. They set an "overweight" rating and a $536.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $531.21.

Trane Technologies Trading Up 0.6%

TT traded up $2.66 during midday trading on Thursday, reaching $469.93. 1,076,322 shares of the company were exchanged, compared to its average volume of 1,373,070. The stock has a market capitalization of $103.39 billion, a P/E ratio of 35.60, a PEG ratio of 2.22 and a beta of 1.15. Trane Technologies plc has a one year low of $348.06 and a one year high of $505.87. The stock's 50-day simple moving average is $454.83 and its 200 day simple moving average is $461.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 1.07.

Trane Technologies (NYSE:TT - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $4.31 EPS for the quarter, beating the consensus estimate of $4.27 by $0.04. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the firm earned $3.88 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. As a group, analysts forecast that Trane Technologies plc will post 15.3 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 4th. Trane Technologies's dividend payout ratio is 31.82%.

Insider Activity at Trane Technologies

In related news, CEO David Regnery sold 48,091 shares of the firm's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $480.00, for a total transaction of $23,083,680.00. Following the sale, the chief executive officer directly owned 96,951 shares in the company, valued at $46,536,480. This trade represents a 33.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.

About Trane Technologies

Trane Technologies plc is a global climate solutions company that develops and provides systems, equipment, services and controls for heating, ventilation, air conditioning and refrigeration. Its solutions are used in commercial buildings, industrial facilities, residential properties, data centers, transportation and other applications where temperature control and energy efficiency are important.

The company operates through two primary areas: Climate Solutions, which includes building heating and cooling systems, building controls, services and energy-management solutions; and Climate Solutions Transport, which provides refrigeration systems for trucks, trailers, shipping containers and other transportation applications.

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