Synovus Financial Corp Cuts Stock Holdings in Trane Technologies plc $TT

Key Points

• Synovus Financial Corp has reduced its stake in Trane Technologies plc by 11.1% in Q1, now holding 6,708 shares valued at approximately $2.26 million.
• Other institutional investors, such as Vanguard Group and JPMorgan Chase, have increased their holdings, highlighting strong interest in Trane Technologies.
• The company recently declared a quarterly dividend of $0.94 per share, with a current dividend yield of 0.9%.

Synovus Financial Corp lowered its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 11.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,708 shares of the company's stock after selling 837 shares during the quarter. Synovus Financial Corp's holdings in Trane Technologies were worth $2,260,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Trane Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company's stock valued at $6,555,377,000 after purchasing an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Trane Technologies by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company's stock valued at $5,297,235,000 after buying an additional 1,408,421 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Trane Technologies by 7.2% in the first quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company's stock worth $1,208,044,000 after buying an additional 241,910 shares in the last quarter. Nuveen LLC acquired a new position in Trane Technologies during the first quarter worth about $877,468,000. Finally, Northern Trust Corp grew its stake in Trane Technologies by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company's stock valued at $870,877,000 after acquiring an additional 17,292 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $419.7770 on Tuesday. The firm has a market cap of $93.40 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.76, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $476.18. The business's fifty day simple moving average is $435.50 and its 200-day simple moving average is $394.66.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.09. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $3.30 EPS. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. Equities analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is 29.82%.

Analyst Upgrades and Downgrades

TT has been the topic of a number of research reports. Stephens raised shares of Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Morgan Stanley upped their target price on Trane Technologies from $445.00 to $520.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup upped their target price on Trane Technologies from $445.00 to $502.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Barclays lifted their price target on Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Trane Technologies has an average rating of "Hold" and a consensus target price of $458.60.

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.

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