Robeco Institutional Asset Management B.V. Sells 616,902 Shares of Trane Technologies plc (NYSE:TT)

Robeco Institutional Asset Management B.V. cut its stake in Trane Technologies plc (NYSE:TT) by 43.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 798,671 shares of the company’s stock after selling 616,902 shares during the period. Trane Technologies makes up approximately 1.1% of Robeco Institutional Asset Management B.V.’s holdings, making the stock its 16th biggest position. Robeco Institutional Asset Management B.V.’s holdings in Trane Technologies were worth $194,796,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TT. International Assets Investment Management LLC boosted its holdings in Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after purchasing an additional 1,030,247 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after acquiring an additional 880,583 shares during the period. FMR LLC lifted its holdings in shares of Trane Technologies by 12.4% during the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after acquiring an additional 632,598 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Trane Technologies by 36.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock worth $332,581,000 after acquiring an additional 436,997 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Trane Technologies by 31.4% during the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 1,812,549 shares of the company’s stock worth $367,784,000 after acquiring an additional 433,388 shares during the period. 82.97% of the stock is owned by institutional investors.

Trane Technologies Price Performance

TT traded up $3.92 during midday trading on Friday, hitting $328.64. The company had a trading volume of 908,441 shares, compared to its average volume of 1,077,201. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The company has a market capitalization of $74.39 billion, a PE ratio of 35.11, a P/E/G ratio of 2.61 and a beta of 1.01. Trane Technologies plc has a twelve month low of $162.04 and a twelve month high of $335.28. The firm’s 50-day simple moving average is $304.55 and its 200-day simple moving average is $268.08.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.30. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. Equities research analysts predict that Trane Technologies plc will post 10.48 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, June 7th. Trane Technologies’s dividend payout ratio (DPR) is presently 35.90%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,979 shares of company stock valued at $6,603,372. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TT has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup raised their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays raised their price objective on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Stephens increased their target price on shares of Trane Technologies from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $300.54.

Trane Technologies 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.