Assenagon Asset Management S.A. Has $5.30 Million Holdings in Trane Technologies plc (NYSE:TT)

Assenagon Asset Management S.A. trimmed its position in shares of Trane Technologies plc (NYSE:TTFree Report) by 96.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,353 shares of the company’s stock after selling 402,840 shares during the period. Assenagon Asset Management S.A.’s holdings in Trane Technologies were worth $5,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Board of the Pension Protection Fund acquired a new stake in shares of Trane Technologies during the fourth quarter valued at about $813,000. Fifth Third Wealth Advisors LLC lifted its stake in shares of Trane Technologies by 6.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 7,512 shares of the company’s stock worth $2,775,000 after acquiring an additional 423 shares during the period. Peoples Financial Services CORP. bought a new stake in Trane Technologies in the fourth quarter valued at approximately $74,000. Oak Thistle LLC acquired a new stake in Trane Technologies during the 4th quarter valued at approximately $489,000. Finally, Pines Wealth Management LLC bought a new position in Trane Technologies during the 4th quarter worth approximately $453,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Trading Up 0.2 %

Shares of TT stock opened at $389.48 on Tuesday. The company’s fifty day simple moving average is $395.78 and its two-hundred day simple moving average is $373.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.92. Trane Technologies plc has a 1 year low of $244.11 and a 1 year high of $422.00. The stock has a market capitalization of $87.64 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 1.95 and a beta of 1.06.

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

Insider Transactions at Trane Technologies

In related 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 value of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TT. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $390.00 to $380.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Barclays lifted their price objective on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. lowered their price objective on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Mizuho boosted their target price on Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $420.64.

View Our Latest Research Report on Trane Technologies

About Trane Technologies

(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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