Assenagon Asset Management S.A. Acquires 181,335 Shares of Trane Technologies plc (NYSE:TT)

Assenagon Asset Management S.A. boosted its holdings in Trane Technologies plc (NYSE:TT) by 76.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 417,193 shares of the company’s stock after purchasing an additional 181,335 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Trane Technologies were worth $162,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its stake in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in Trane Technologies in the 1st quarter worth approximately $27,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Trane Technologies during the 1st quarter worth approximately $30,000. Fortitude Family Office LLC raised its holdings in shares of Trane Technologies by 63.2% during the 2nd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after acquiring an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Trane Technologies during the 2nd quarter worth approximately $39,000. 82.97% of the stock is currently owned by institutional investors.

Trane Technologies Trading Down 0.4 %

TT stock traded down $1.72 during midday trading on Thursday, reaching $394.11. The company’s stock had a trading volume of 400,147 shares, compared to its average volume of 1,093,327. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a fifty day simple moving average of $372.79 and a two-hundred day simple moving average of $341.49. Trane Technologies plc has a 1 year low of $184.02 and a 1 year high of $406.96. The firm has a market capitalization of $89.21 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the firm posted $2.68 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Trane Technologies plc will post 10.88 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, December 6th. Trane Technologies’s payout ratio is 35.90%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TT. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Robert W. Baird upped their price objective on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Barclays upped their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price target on the stock. 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 report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $373.58.

Insider Transactions at Trane Technologies

In other news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

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.