Assenagon Asset Management S.A. Acquires 264,439 Shares of Trane Technologies plc (NYSE:TT)

Assenagon Asset Management S.A. boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1,842.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,792 shares of the company's stock after acquiring an additional 264,439 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of Trane Technologies worth $93,931,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in shares of Trane Technologies by 208.3% during the 1st quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after acquiring an additional 50 shares during the period. Minot DeBlois Advisors LLC bought a new position in Trane Technologies during the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Trane Technologies in the fourth quarter valued at $28,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Trane Technologies during the 4th quarter worth about $37,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Trane Technologies during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Trane Technologies from $330.00 to $370.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Hsbc Global Res raised shares of Trane Technologies from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group raised their price target on shares of Trane Technologies from $470.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird boosted their price objective on shares of Trane Technologies from $360.00 to $396.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Citigroup raised their target price on shares of Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $427.47.

Trane Technologies Trading Up 0.4%

Shares of TT stock traded up $1.71 during trading hours on Thursday, hitting $424.67. 575,487 shares of the company's stock traded hands, compared to its average volume of 1,344,802. The stock has a market cap of $94.71 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $436.61. The stock's 50 day simple moving average is $388.43 and its 200 day simple moving average is $376.92. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.46 billion. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm's revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. On average, sell-side analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.89%. Trane Technologies's dividend payout ratio is presently 31.28%.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the completion of the sale, the insider now directly owns 3,593 shares of the company's stock, valued at $1,365,340. This trade represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

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.