Renasant Bank Trims Stock Holdings in Trane Technologies plc $TT

Renasant Bank lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 53.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054 shares of the company’s stock after selling 1,226 shares during the period. Renasant Bank’s holdings in Trane Technologies were worth $461,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. NorthRock Partners LLC lifted its holdings in Trane Technologies by 1.2% during the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock worth $898,000 after purchasing an additional 24 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Trane Technologies by 1.3% during the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after buying an additional 24 shares during the period. Csenge Advisory Group lifted its holdings in shares of Trane Technologies by 0.6% in the first quarter. Csenge Advisory Group now owns 3,944 shares of the company’s stock worth $1,314,000 after buying an additional 25 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Trane Technologies by 0.7% in the second quarter. Confluence Wealth Services Inc. now owns 3,609 shares of the company’s stock valued at $1,579,000 after acquiring an additional 25 shares during the period. Finally, CBIZ Investment Advisory Services LLC grew its stake in Trane Technologies by 23.4% during the first quarter. CBIZ Investment Advisory Services LLC now owns 137 shares of the company’s stock valued at $46,000 after acquiring an additional 26 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Trane Technologies Trading Down 2.8%

NYSE TT opened at $421.20 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $419.39 and its two-hundred day simple moving average is $424.42. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $476.18. The company has a market capitalization of $93.40 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.66 and a beta of 1.16.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.80 by $0.08. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.80 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.37 EPS. Trane Technologies has set its FY 2025 guidance at 12.950-13.050 EPS. Research analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s dividend payout ratio (DPR) is 28.92%.

Insider Buying and Selling

In other Trane Technologies news, CAO Elizabeth A. Elwell sold 600 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $440.00, for a total value of $264,000.00. Following the completion of the sale, the chief accounting officer directly owned 7,148 shares of the company’s stock, valued at $3,145,120. The trade was a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 22,497 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total value of $9,223,770.00. Following the completion of the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup increased their target price on shares of Trane Technologies from $494.00 to $513.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. UBS Group increased their price objective on Trane Technologies from $500.00 to $544.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on Trane Technologies from $467.00 to $469.00 and gave the company a “sector perform” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $466.50.

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.