Fenimore Asset Management Inc Cuts Holdings in Trane Technologies plc (NYSE:TT)

Fenimore Asset Management Inc decreased its position in Trane Technologies plc (NYSE:TT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,542 shares of the company's stock after selling 19,119 shares during the period. Trane Technologies accounts for 3.1% of Fenimore Asset Management Inc's portfolio, making the stock its 10th largest position. Fenimore Asset Management Inc owned 0.19% of Trane Technologies worth $145,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Courier Capital LLC raised its position in shares of Trane Technologies by 12.5% in the 1st quarter. Courier Capital LLC now owns 1,798 shares of the company's stock valued at $606,000 after acquiring an additional 200 shares during the period. First Citizens Bank & Trust Co. increased its stake in Trane Technologies by 12.5% in the first quarter. First Citizens Bank & Trust Co. now owns 1,216 shares of the company's stock valued at $410,000 after purchasing an additional 135 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Trane Technologies by 17.6% in the first quarter. Park Avenue Securities LLC now owns 21,041 shares of the company's stock worth $7,089,000 after purchasing an additional 3,150 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Trane Technologies by 98.3% during the first quarter. Sivia Capital Partners LLC now owns 1,360 shares of the company's stock worth $458,000 after purchasing an additional 674 shares in the last quarter. Finally, Radnor Capital Management LLC grew its holdings in shares of Trane Technologies by 14.8% in the 1st quarter. Radnor Capital Management LLC now owns 1,131 shares of the company's stock valued at $381,000 after buying an additional 146 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research note on Thursday, May 1st. UBS Group raised their target price on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. HSBC raised shares of Trane Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $405.00 to $415.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $427.47.

Trane Technologies Stock Performance

Shares of NYSE TT traded down $1.26 during mid-day trading on Monday, reaching $427.67. 793,210 shares of the company were exchanged, compared to its average volume of 1,348,990. The stock has a market capitalization of $95.38 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.50 and a beta of 1.16. 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 twelve month low of $298.15 and a twelve month high of $436.61. The company's 50-day simple moving average is $382.93 and its 200-day simple moving average is $376.21.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter last year, the business earned $1.94 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 annualized dividend and a yield of 0.88%. Trane Technologies's dividend payout ratio is 31.28%.

Insider Buying and Selling

In other Trane Technologies news, insider Donald E. Simmons sold 3,571 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now owns 3,593 shares of the company's stock, valued at $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by company insiders.

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.