Assenagon Asset Management S.A. Has $14.01 Million Stake in Trane Technologies plc $TT

Assenagon Asset Management S.A. reduced its stake in shares of Trane Technologies plc (NYSE:TT) by 89.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,005 shares of the company’s stock after selling 296,833 shares during the period. Assenagon Asset Management S.A.’s holdings in Trane Technologies were worth $14,013,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TT. Brighton Jones LLC raised its position in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock valued at $2,288,000 after buying an additional 2,323 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Trane Technologies by 22.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after acquiring an additional 305 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies during the 2nd quarter worth $227,000. Global Retirement Partners LLC bought a new stake in shares of Trane Technologies in the 2nd quarter worth $1,033,000. Finally, Laurel Wealth Advisors LLC raised its holdings in shares of Trane Technologies by 43,700.0% in the second quarter. Laurel Wealth Advisors LLC now owns 438 shares of the company’s stock valued at $192,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

TT has been the topic of several analyst reports. UBS Group cut their price target on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Royal Bank Of Canada lifted their target price on shares of Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Citigroup boosted their target price on Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their price target on Trane Technologies from $375.00 to $400.00 and gave the company an “underweight” rating in a research report on Friday, January 30th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.67.

Trane Technologies Stock Down 6.2%

TT opened at $407.13 on Friday. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $479.37. The company’s 50-day moving average price is $433.20 and its two-hundred day moving average price is $417.60. The stock has a market cap of $90.11 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.29 and a beta of 1.19. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the business posted $2.61 EPS. Trane Technologies’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.94. Trane Technologies’s payout ratio is currently 32.36%.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,762 shares of Trane Technologies stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $422.70, for a total value of $1,590,197.40. Following the completion of the sale, the insider owned 3,819 shares of the company’s stock, valued at approximately $1,614,291.30. This trade represents a 49.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 36,045 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the sale, the chief executive officer owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,378 shares of company stock worth $21,228,464 over the last 90 days. 0.14% of the stock is owned by insiders.

Trane Technologies Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.