Assenagon Asset Management S.A. Boosts Stock Position in Trane Technologies plc $TT

Assenagon Asset Management S.A. raised its holdings in Trane Technologies plc (NYSE:TT) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,838 shares of the company’s stock after buying an additional 50,535 shares during the period. Assenagon Asset Management S.A. owned about 0.15% of Trane Technologies worth $140,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Icon Advisers Inc. Co. acquired a new stake in shares of Trane Technologies during the 2nd quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in Trane Technologies in the second quarter valued at approximately $28,000. Hantz Financial Services Inc. raised its holdings in Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of Trane Technologies by 23.4% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after buying an additional 26 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America upgraded shares of Trane Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $490.00 to $550.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price objective on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, October 8th. Barclays raised their price target on Trane Technologies from $485.00 to $495.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada boosted their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus target price of $472.07.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of Trane Technologies stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $440.00, for a total value of $264,000.00. Following the sale, the chief accounting officer owned 7,148 shares of the company’s stock, valued at approximately $3,145,120. The trade was a 7.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of NYSE TT opened at $395.83 on Wednesday. The stock has a fifty day moving average price of $417.41 and a 200 day moving average price of $423.69. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.20 and a quick ratio of 0.84. The company has a market cap of $87.77 billion, a PE ratio of 30.45, a P/E/G ratio of 2.28 and a beta of 1.19.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.08. Trane Technologies had a net margin of 13.93% and a return on equity of 37.04%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $3.37 EPS. Trane Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Sell-side analysts forecast that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Trane Technologies’s dividend payout ratio is currently 28.92%.

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.