Trane Technologies plc $TT Position Cut by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. trimmed its stake in Trane Technologies (NYSE:TT) by 17.5% in Q4, selling 214,468 shares and leaving 1,008,998 shares (≈0.46% of the company) valued at about $392.7 million.
• Trane beat Q4 estimates with EPS of $2.86 versus $2.81 and revenue of $5.14 billion, and analysts hold a consensus rating of "Moderate Buy" with a consensus target price of $484.67.
• Insiders have been net sellers recently, including CEO David Regnery's March 6 sale of 36,045 shares (~$15.2M); insiders sold 57,997 shares (~$25.1M) in the last 90 days.

Robeco Institutional Asset Management B.V. trimmed its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,008,998 shares of the company's stock after selling 214,468 shares during the quarter. Trane Technologies comprises 0.6% of Robeco Institutional Asset Management B.V.'s portfolio, making the stock its 29th largest holding. Robeco Institutional Asset Management B.V. owned about 0.46% of Trane Technologies worth $392,702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Trane Technologies by 10.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,525,010 shares of the company's stock worth $6,550,975,000 after buying an additional 1,433,563 shares in the last quarter. Nordea Investment Management AB grew its holdings in Trane Technologies by 2.9% in the 4th quarter. Nordea Investment Management AB now owns 2,586,506 shares of the company's stock worth $1,010,419,000 after buying an additional 72,998 shares in the last quarter. Bank of America Corp DE grew its holdings in Trane Technologies by 9.2% in the 3rd quarter. Bank of America Corp DE now owns 2,422,690 shares of the company's stock worth $1,022,278,000 after buying an additional 203,766 shares in the last quarter. Legal & General Group Plc grew its holdings in Trane Technologies by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 1,880,221 shares of the company's stock worth $793,378,000 after buying an additional 44,243 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Trane Technologies by 4.1% in the 3rd quarter. Invesco Ltd. now owns 1,776,055 shares of the company's stock worth $749,424,000 after buying an additional 70,172 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TT shares. Oppenheimer increased their price objective on Trane Technologies from $460.00 to $468.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Citigroup increased their price target on Trane Technologies from $513.00 to $525.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Trane Technologies in a research note on Wednesday, January 21st. Morgan Stanley decreased their price target on Trane Technologies from $550.00 to $535.00 and set an "overweight" rating for the company in a research note on Tuesday, January 13th. Finally, Royal Bank Of Canada increased their price target on Trane Technologies from $469.00 to $470.00 and gave the company a "sector perform" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $484.67.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $465.67 on Friday. The stock has a fifty day moving average price of $440.95 and a two-hundred day moving average price of $419.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market cap of $103.07 billion, a P/E ratio of 35.88, a PEG ratio of 2.45 and a beta of 1.21. Trane Technologies plc has a 1 year low of $318.08 and a 1 year high of $479.37.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.05. The firm 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%.The firm's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $2.61 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.20 annualized dividend and a dividend yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is currently 32.36%.

Insider Buying and Selling

In other news, CEO David S. Regnery sold 36,045 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the sale, the chief executive officer directly owned 96,948 shares of the company's stock, valued at $40,978,950.12. This trade represents a 27.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Donald E. Simmons sold 3,762 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the sale, the insider directly owned 3,819 shares of the company's stock, valued at approximately $1,614,291.30. This represents a 49.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 57,997 shares of company stock valued at $25,107,014. 0.14% of the stock is owned by insiders.

Trane Technologies Profile

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.

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