Robeco Institutional Asset Management B.V. Sells 63,990 Shares of Trane Technologies plc (NYSE:TT)

Robeco Institutional Asset Management B.V. lessened its position in Trane Technologies plc (NYSE:TT) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,260,122 shares of the company’s stock after selling 63,990 shares during the quarter. Trane Technologies makes up about 0.8% of Robeco Institutional Asset Management B.V.’s portfolio, making the stock its 17th biggest position. Robeco Institutional Asset Management B.V. owned about 0.56% of Trane Technologies worth $424,560,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TT. WFA Asset Management Corp boosted its stake in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Trane Technologies during the fourth quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new position in Trane Technologies in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Trane Technologies during the 1st quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth approximately $37,000. Institutional investors own 82.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald E. Simmons sold 3,571 shares of the company’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Stock Down 0.2%

TT opened at $427.99 on Thursday. The stock has a fifty day moving average of $406.39 and a 200-day moving average of $377.50. The company has a market capitalization of $95.45 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.82 and a beta of 1.16. Trane Technologies plc has a fifty-two week low of $298.15 and a fifty-two week high of $436.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09.

Trane Technologies (NYSE:TT) last issued 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. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Trane Technologies had a net margin of 13.47% and a return on equity of 36.10%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.94 EPS. On average, equities analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently declared 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. This represents a $3.76 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, September 5th. Trane Technologies’s dividend payout ratio is currently 31.28%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TT. Wells Fargo & Company boosted their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $334.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. HSBC raised shares of Trane Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $405.00 to $415.00 in a report on Friday, April 25th. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, UBS Group upped their price objective on Trane Technologies from $470.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $427.47.

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.