Trane Technologies plc $TT Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Trane Technologies stake by 44% during the second quarter, selling 10,149 shares and retaining 12,939 shares valued at approximately $6.36 million.
• Analysts maintain a generally positive outlook, with a consensus rating of Moderate Buy and an average price target of $520.07. Recent targets range from $476 to $555.
• Trane Technologies exceeded quarterly expectations with $4.31 in EPS and $6.35 billion in revenue, while revenue increased 10.6% year over year. The company also declared a quarterly dividend of $1.05 per share, equivalent to a 0.9% yield.

Assenagon Asset Management S.A. lessened its stake in shares of Trane Technologies plc (NYSE:TT - Free Report) by 44.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,939 shares of the company's stock after selling 10,149 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Trane Technologies were worth $6,355,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new position in shares of Trane Technologies during the fourth quarter valued at approximately $25,000. Wilkerson Advisory Group LLC raised its holdings in Trane Technologies by 136.0% in the 1st quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company's stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in Trane Technologies in the 4th quarter valued at $32,000. JPL Wealth Management LLC purchased a new position in shares of Trane Technologies during the 3rd quarter worth $32,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of Trane Technologies by 192.6% during the first quarter. Physician Wealth Advisors Inc. now owns 79 shares of the company's stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TT. Royal Bank Of Canada dropped their target price on Trane Technologies from $501.00 to $496.00 and set a "sector perform" rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Trane Technologies from $460.00 to $476.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Sanford C. Bernstein set a $555.00 price objective on Trane Technologies in a report on Thursday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a report on Friday, July 17th. Finally, BNP Paribas Exane began coverage on Trane Technologies in a research report on Tuesday, April 14th. They set an "outperform" rating and a $550.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $520.07.

Insider Activity at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 43,778 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $475.00, for a total transaction of $20,794,550.00. Following the transaction, the chief executive officer owned 96,950 shares in the company, valued at $46,051,250. The trade was a 31.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by corporate insiders.

Trane Technologies Trading Up 1.4%

Shares of TT stock opened at $483.86 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Trane Technologies plc has a fifty-two week low of $348.06 and a fifty-two week high of $505.87. The firm's 50 day moving average price is $474.12 and its two-hundred day moving average price is $457.43. The stock has a market cap of $106.46 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.27 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.20 billion. Trane Technologies had a net margin of 13.28% and a return on equity of 35.72%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.88 earnings per share. Trane Technologies has set its FY 2026 guidance at 15.200-15.300 EPS. On average, analysts anticipate that Trane Technologies plc will post 15.31 EPS for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.20 annualized dividend and a yield of 0.9%. Trane Technologies's dividend payout ratio (DPR) is 31.82%.

Trane Technologies Profile

Trane Technologies NYSE: TT is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.

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