Assenagon Asset Management S.A. Sells 402,840 Shares of Trane Technologies plc (NYSE:TT)

Assenagon Asset Management S.A. reduced its position in shares of Trane Technologies plc (NYSE:TT) by 96.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,353 shares of the company’s stock after selling 402,840 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Trane Technologies were worth $5,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. Global Wealth Strategies & Associates bought a new stake in Trane Technologies during the 4th quarter worth about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $36,000. Quarry LP bought a new stake in shares of Trane Technologies in the 2nd quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the subject of a number of recent analyst reports. Barclays upped their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their price target on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Citigroup decreased their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Trane Technologies currently has a consensus rating of “Hold” and a consensus target price of $420.64.

Trane Technologies Trading Up 0.2 %

NYSE:TT opened at $389.48 on Tuesday. Trane Technologies plc has a twelve month low of $244.11 and a twelve month high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $395.78 and a two-hundred day moving average price of $373.81. The company has a market cap of $87.64 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the business posted $2.79 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 11.13 EPS for the current fiscal year.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares in the company, valued at $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

Trane Technologies Company 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.