Synovus Financial Corp Buys 1,271 Shares of Trane Technologies plc (NYSE:TT)

Synovus Financial Corp increased its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,828 shares of the company's stock after purchasing an additional 1,271 shares during the quarter. Synovus Financial Corp's holdings in Trane Technologies were worth $3,431,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TT. MidAtlantic Capital Management Inc. acquired a new position in shares of Trane Technologies during the 3rd quarter worth about $27,000. DT Investment Partners LLC bought a new position in shares of Trane Technologies in the third quarter valued at about $36,000. Pittenger & Anderson Inc. bought a new position in Trane Technologies in the 3rd quarter valued at $39,000. Legacy Investment Solutions LLC bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $44,000. Finally, Quarry LP acquired a new position in shares of Trane Technologies in the second quarter valued at approximately $39,000. 82.97% of the stock is owned by institutional investors.

Trane Technologies Stock Down 0.1 %

Trane Technologies stock traded down $0.30 during trading on Friday, reaching $399.36. The stock had a trading volume of 852,589 shares, compared to its average volume of 1,116,656. The stock has a market cap of $89.87 billion, a PE ratio of 37.05, a P/E/G ratio of 2.43 and a beta of 1.03. The business has a 50 day moving average price of $402.05 and a 200 day moving average price of $364.54. Trane Technologies plc has a 52-week low of $233.76 and a 52-week high of $422.00. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business's revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.79 earnings per share. On average, analysts predict that Trane Technologies plc will post 11.13 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 $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. Trane Technologies's payout ratio is 31.17%.

Insider Buying and Selling

In related news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares of the company's stock, valued at $5,363,488. This represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TT. Wells Fargo & Company increased their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Hsbc Global Res cut shares of Trane Technologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 31st. Mizuho raised their price objective on Trane Technologies from $325.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. HSBC downgraded Trane Technologies from a "buy" rating to a "hold" rating and set a $405.00 target price for the company. in a research report on Thursday, October 31st. Finally, Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $409.93.

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.