Trane Technologies plc (NYSE:TT) Shares Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc lessened its position in shares of Trane Technologies plc (NYSE:TT) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,661 shares of the company’s stock after selling 9,216 shares during the quarter. Trane Technologies comprises about 3.5% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 7th largest position. Fenimore Asset Management Inc owned approximately 0.20% of Trane Technologies worth $166,451,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TT. Public Sector Pension Investment Board raised its position in shares of Trane Technologies by 65.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,572 shares of the company’s stock valued at $2,820,000 after acquiring an additional 3,401 shares during the last quarter. AQR Capital Management LLC increased its holdings in Trane Technologies by 42.1% in the second quarter. AQR Capital Management LLC now owns 256,352 shares of the company’s stock valued at $84,322,000 after purchasing an additional 75,888 shares during the last quarter. APG Asset Management N.V. lifted its stake in Trane Technologies by 3.8% in the second quarter. APG Asset Management N.V. now owns 394,515 shares of the company’s stock valued at $121,080,000 after buying an additional 14,462 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Trane Technologies by 16.4% during the second quarter. Daymark Wealth Partners LLC now owns 2,704 shares of the company’s stock worth $889,000 after buying an additional 380 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of Trane Technologies during the 2nd quarter worth about $5,468,000. Institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $400.88 on Friday. Trane Technologies plc has a 12 month low of $250.06 and a 12 month high of $422.00. The company’s fifty day simple moving average is $394.35 and its 200-day simple moving average is $375.50. The firm has a market cap of $90.21 billion, a PE ratio of 37.19, a P/E/G ratio of 2.16 and a beta of 1.06. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 EPS. Equities research analysts expect that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on TT shares. Wells Fargo & Company cut their price target on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Barclays raised their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird decreased their target price on Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies currently has an average rating of “Hold” and an average price target of $420.64.

Insiders Place Their Bets

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the transaction, the senior vice president now owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

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.