Trustmark National Bank Trust Department Has $1.84 Million Holdings in Trane Technologies plc (NYSE:TT)

Trustmark National Bank Trust Department lifted its position in Trane Technologies plc (NYSE:TT) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,739 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Trane Technologies were worth $1,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies in the 3rd quarter valued at $27,000. DT Investment Partners LLC acquired a new position in Trane Technologies in the third quarter worth about $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies during the third quarter worth about $39,000. Fortitude Family Office LLC boosted its holdings in Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after purchasing an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Trane Technologies in the 2nd quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.5 %

NYSE:TT opened at $411.16 on Thursday. The company has a market cap of $92.52 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The stock’s fifty day moving average price is $391.85 and its two-hundred day moving average price is $355.02. Trane Technologies plc has a 52-week low of $221.22 and a 52-week high of $421.78.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 earnings per share. On average, analysts anticipate that Trane Technologies plc will post 11.14 EPS for the current year.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a dividend yield of 0.82%. Trane Technologies’s payout ratio is currently 31.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays raised their target price on Trane Technologies from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Robert W. Baird lowered their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target for the company. in a report on Thursday, October 31st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Finally, UBS Group started coverage on shares of Trane Technologies in a report on Wednesday, November 13th. They set a “buy” rating and a $500.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $389.77.

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.