Renasant Bank Reduces Stock Position in Trane Technologies plc $TT

Renasant Bank cut its holdings in shares of Trane Technologies plc (NYSE:TT) by 53.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,054 shares of the company’s stock after selling 1,226 shares during the quarter. Renasant Bank’s holdings in Trane Technologies were worth $461,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TT. Ameriflex Group Inc. purchased a new position in shares of Trane Technologies in the 2nd quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its position in Trane Technologies by 1,016.7% during the second quarter. Hantz Financial Services Inc. now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 61 shares during the period. Saudi Central Bank bought a new stake in shares of Trane Technologies during the 1st quarter valued at $30,000. Bogart Wealth LLC grew its position in shares of Trane Technologies by 97.9% in the 1st quarter. Bogart Wealth LLC now owns 93 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Finally, Dagco Inc. bought a new position in shares of Trane Technologies in the 1st quarter worth about $37,000. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Trane Technologies Stock Down 2.8%

TT stock opened at $421.20 on Wednesday. The stock has a market capitalization of $93.40 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.76. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The business has a fifty day moving average price of $419.39 and a 200-day moving average price of $424.42.

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

Trane Technologies Dividend Announcement

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

Analyst Ratings Changes

TT has been the topic of several research reports. Hsbc Global Res cut shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Citigroup raised their price objective on Trane Technologies from $494.00 to $513.00 and gave the company a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on Trane Technologies from $407.00 to $434.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Wells Fargo & Company increased their target price on Trane Technologies from $410.00 to $415.00 and gave the stock an “underweight” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Trane Technologies in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $466.50.

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.