Trane Technologies plc (NYSE:TT) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Trane Technologies plc (NYSE:TT) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,324,112 shares of the company’s stock after selling 114,403 shares during the quarter. Trane Technologies comprises 0.9% of Robeco Institutional Asset Management B.V.’s portfolio, making the stock its 16th largest position. Robeco Institutional Asset Management B.V. owned approximately 0.59% of Trane Technologies worth $489,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Trane Technologies by 35,914.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,645,137 shares of the company’s stock worth $639,514,000 after buying an additional 1,640,569 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Trane Technologies by 35.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,550,511 shares of the company’s stock worth $991,460,000 after buying an additional 671,691 shares in the last quarter. FMR LLC grew its holdings in Trane Technologies by 4.0% in the 3rd quarter. FMR LLC now owns 10,337,672 shares of the company’s stock worth $4,018,563,000 after buying an additional 397,537 shares in the last quarter. Nordea Investment Management AB grew its holdings in Trane Technologies by 42.9% in the 4th quarter. Nordea Investment Management AB now owns 978,275 shares of the company’s stock worth $361,874,000 after buying an additional 293,916 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Trane Technologies by 76.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 417,193 shares of the company’s stock worth $162,175,000 after buying an additional 181,335 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent analyst reports. Mizuho increased their price objective on Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird decreased their price target 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. Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $417.81.

Insider Activity

In related news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction on 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 sale, the senior vice president now owns 12,893 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Trane Technologies Price Performance

TT opened at $365.41 on Wednesday. The stock has a fifty day moving average of $392.55 and a 200-day moving average of $376.35. The firm has a market capitalization of $82.23 billion, a P/E ratio of 33.90, a PEG ratio of 2.16 and a beta of 1.06. Trane Technologies plc has a 12-month low of $250.77 and a 12-month high of $422.00. 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 released its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. Equities analysts forecast that Trane Technologies plc will post 11.16 EPS for the current fiscal year.

About Trane Technologies

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.