Assenagon Asset Management S.A. Raises Position in Trane Technologies plc (NYSE:TT)

Assenagon Asset Management S.A. boosted its stake in Trane Technologies plc (NYSE:TTFree Report) by 822.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 91,083 shares of the company’s stock after buying an additional 81,214 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Trane Technologies were worth $22,215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Trane Technologies by 36.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,639,058 shares of the company’s stock valued at $332,581,000 after buying an additional 436,997 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in Trane Technologies by 2.1% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,136 shares of the company’s stock worth $765,000 after purchasing an additional 64 shares in the last quarter. Graypoint LLC lifted its stake in Trane Technologies by 46.0% in the 3rd quarter. Graypoint LLC now owns 2,043 shares of the company’s stock worth $414,000 after purchasing an additional 644 shares in the last quarter. Keybank National Association OH lifted its stake in Trane Technologies by 3.2% in the 3rd quarter. Keybank National Association OH now owns 24,352 shares of the company’s stock worth $4,941,000 after purchasing an additional 756 shares in the last quarter. Finally, Invera Wealth Advisors LLC purchased a new position in Trane Technologies in the 4th quarter worth approximately $4,097,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trane Technologies

In related news, CEO David S. Regnery sold 6,990 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO David S. Regnery sold 6,990 shares of the company’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 completion of the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher J. Kuehn sold 2,767 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at $14,700,168.28. The disclosure for this sale can be found here. In the last three months, insiders sold 29,874 shares of company stock valued at $8,462,825. Insiders own 0.39% of the company’s stock.

Trane Technologies Stock Performance

NYSE:TT opened at $299.71 on Thursday. The company has a fifty day simple moving average of $276.03 and a two-hundred day simple moving average of $239.55. The company has a market cap of $68.06 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 52 week low of $162.04 and a 52 week high of $305.00.

Trane Technologies (NYSE:TTGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 EPS. As a group, equities analysts anticipate that Trane Technologies plc will post 10.18 earnings per share for the current fiscal year.

Trane Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be given a dividend of $0.84 per share. This is a boost from Trane Technologies’s previous quarterly dividend of $0.75. This represents a $3.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, February 29th. Trane Technologies’s payout ratio is 38.23%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TT. Royal Bank of Canada raised 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 note on Friday, February 2nd. Stephens lifted their price target on shares of Trane Technologies from $235.00 to $280.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Citigroup lifted their price target on shares of Trane Technologies from $246.00 to $269.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Wells Fargo & Company lifted their price target on shares of Trane Technologies from $200.00 to $246.00 and gave the company an “underweight” rating in a research report on Tuesday, December 19th. Finally, The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $253.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Trane Technologies has an average rating of “Hold” and a consensus price target of $232.31.

Check Out Our Latest Stock Report on TT

Trane Technologies Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Trane Technologies (NYSE:TT)

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