Trustmark National Bank Trust Department Grows Stock Holdings in Trane Technologies plc (NYSE:TT)

Trustmark National Bank Trust Department boosted its stake in Trane Technologies plc (NYSE:TT) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,867 shares of the company’s stock after acquiring an additional 141 shares during the period. Trustmark National Bank Trust Department’s holdings in Trane Technologies were worth $1,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TT. BKM Wealth Management LLC acquired a new stake in Trane Technologies in the fourth quarter valued at about $25,000. Motco purchased a new stake in shares of Trane Technologies in the fourth quarter valued at approximately $27,000. Sachetta LLC purchased a new position in Trane Technologies in the fourth quarter worth $27,000. GoalVest Advisory LLC increased its position in shares of Trane Technologies by 157.1% in the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Trane Technologies during the first quarter valued at $27,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher J. Kuehn sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total value of $1,274,680.00. Following the completion of the transaction, the chief financial officer now owns 61,293 shares in the company, valued at approximately $19,532,240.31. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies Stock Up 2.3 %

Shares of Trane Technologies stock traded up $7.80 during trading on Tuesday, reaching $344.90. The company had a trading volume of 535,345 shares, compared to its average volume of 1,095,216. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.74 and a current ratio of 1.13. The firm’s fifty day moving average is $331.86 and its 200-day moving average is $300.95. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $347.33. The company has a market cap of $78.07 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. On average, analysts anticipate that Trane Technologies plc will post 10.49 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 annualized dividend and a yield of 0.97%. Trane Technologies’s payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TT. Robert W. Baird boosted their price objective on shares of Trane Technologies from $344.00 to $360.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Citigroup raised their price objective on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TD Cowen increased their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Stephens lifted their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Trane Technologies has a consensus rating of “Hold” and an average price target of $312.36.

About Trane Technologies

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.