Assenagon Asset Management S.A. Buys 3,511 Shares of Trane Technologies plc $TT

Key Points

• Assenagon Asset Management S.A. increased its stake in Trane Technologies by 1.3%, now owning 282,303 shares valued at approximately $123.48 million.
• Trane Technologies reported a quarterly EPS of $3.88, exceeding analysts' expectations, with a revenue of $5.75 billion for the quarter.
• Multiple analysts have updated their price targets for Trane Technologies, with Morgan Stanley raising it to $520.00 and UBS Group to $544.00.

Assenagon Asset Management S.A. raised its holdings in shares of Trane Technologies plc (NYSE:TT - Free Report) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,303 shares of the company's stock after acquiring an additional 3,511 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Trane Technologies worth $123,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp boosted its holdings in shares of Trane Technologies by 208.3% during the first quarter. WFA Asset Management Corp now owns 74 shares of the company's stock worth $25,000 after purchasing an additional 50 shares during the period. Saudi Central Bank purchased a new position in shares of Trane Technologies during the 1st quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in Trane Technologies in the 1st quarter valued at $31,000. Bogart Wealth LLC grew its holdings in Trane Technologies by 97.9% during the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its stake in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock worth $32,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Trane Technologies Trading Down 0.8%

Shares of TT traded down $3.41 during trading hours on Tuesday, hitting $404.22. 221,121 shares of the stock traded hands, compared to its average volume of 1,444,018. The firm has a market capitalization of $89.94 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $427.79 and a 200-day moving average of $402.57. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Analysts expect that Trane Technologies plc will post 12.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TT. The Goldman Sachs Group increased their target price on shares of Trane Technologies from $416.00 to $460.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Barclays dropped their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, September 16th. Morgan Stanley boosted their price target on shares of Trane Technologies from $445.00 to $520.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Northcoast Research downgraded shares of Trane Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada upped their price target on shares of Trane Technologies from $463.00 to $467.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Trane Technologies presently has an average rating of "Hold" and a consensus target price of $457.40.

Insider Activity at Trane Technologies

In other news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company's stock.

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.