Nisa Investment Advisors LLC Increases Position in Trane Technologies plc (NYSE:TT)

Nisa Investment Advisors LLC boosted its position in shares of Trane Technologies plc (NYSE:TT) by 45.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,762 shares of the company’s stock after purchasing an additional 40,457 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Trane Technologies worth $47,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Point Inc. grew its stake in shares of Trane Technologies by 3.1% in the third quarter. Trust Point Inc. now owns 897 shares of the company’s stock worth $349,000 after acquiring an additional 27 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in shares of Trane Technologies by 1.8% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,490 shares of the company’s stock valued at $579,000 after buying an additional 27 shares during the last quarter. First Pacific Financial boosted its position in shares of Trane Technologies by 1.1% in the 3rd quarter. First Pacific Financial now owns 2,674 shares of the company’s stock valued at $1,039,000 after purchasing an additional 28 shares during the period. Wescott Financial Advisory Group LLC increased its holdings in shares of Trane Technologies by 1.7% in the 3rd quarter. Wescott Financial Advisory Group LLC now owns 1,723 shares of the company’s stock valued at $670,000 after acquiring an additional 28 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of Trane Technologies by 0.5% during the third quarter. Greenleaf Trust now owns 5,852 shares of the company’s stock worth $2,275,000 after buying an additional 29 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Trane Technologies Price Performance

NYSE TT opened at $397.02 on Wednesday. The business’s fifty day moving average is $395.28 and its two-hundred day moving average is $374.22. The stock has a market capitalization of $89.34 billion, a P/E ratio of 36.83, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. Trane Technologies plc has a 1 year low of $249.21 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.23 by $0.14. The business had revenue of $5.44 billion during 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%. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 earnings per share. On average, research analysts forecast that Trane Technologies plc will post 11.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays raised their price target on Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They issued a “buy” rating and a $500.00 price objective for the company. The Goldman Sachs Group upped their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Mizuho upped their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $420.64.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the transaction, the senior vice president now owns 12,893 shares of the company’s stock, valued at approximately $5,363,488. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

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.