Fenimore Asset Management Inc reduced its position in Trane Technologies plc by 3.6% in the fourth quarter, according to a Securities and Exchange Commission filing. The institutional investor sold 14,890 shares, leaving it with 395,638 shares. Trane Technologies remains the firm's ninth largest holding, accounting for roughly 3.2% of its portfolio, with a position valued at approximately $153,982,000.
The reduction comes amid a period of significant institutional activity in the stock. Several major investors have recently adjusted their positions. Aptus Capital Advisors increased its holdings by 169.8% during the third quarter, bringing its stake to 14,738 shares worth $6,219,000. Nordea Investment Management grew its position by 2.4% in the same period to 2,513,508 shares valued at $1,051,049,000. Meanwhile, Compass Wealth Management saw its stake surge 3,785.4% in the third quarter, acquiring an additional 26,498 shares for a total of 27,198 shares worth $11,476,000.
Institutional investors and hedge funds now control approximately 82.97% of Trane Technologies' outstanding stock. Corporate insiders hold just 0.14% of the company.
Trane Technologies has attracted significant analyst attention following strong quarterly performance. The company reported first-quarter adjusted earnings per share of $2.63 and revenue of $4.97 billion, exceeding estimates. Management raised full-year 2026 guidance to $14.75–14.95 in earnings per share and lifted revenue expectations above prior levels. Bookings climbed approximately 24% in the quarter, reaching $6.69 billion, while backlog hit a record $10.7 billion.
Multiple analysts have upgraded their price targets. Barclays raised its target to $585 with an overweight rating. Citigroup increased its target to $570 while maintaining a buy rating. KeyCorp and RBC also lifted targets to $555 and $501, respectively. Evercore initiated coverage with an outperform rating and a $535 price target. JPMorgan Chase raised its objective from $434 to $460, though the firm assigned a neutral rating.
Recent insider selling has also occurred. Chief Financial Officer Christopher J. Kuehn sold 8,619 shares on April 8th at an average price of $450, a 12.46% reduction in his position. Chief Executive Officer David S. Regnery sold 36,045 shares on March 6th at an average price of $422.69, representing a 27.10% decrease in his holdings. Insiders sold 62,590 shares worth $27,403,514 over the last quarter.
Shares closed Friday at $486.73. The stock trades at a price-to-earnings ratio of 37.64 with a market capitalization of $107.62 billion. The company maintains a current ratio of 1.10 and a debt-to-equity ratio of 0.46. Trane Technologies recently declared a quarterly dividend of $1.05 per share, payable June 30th to shareholders of record on June 5th, representing a 0.9% yield.
