Nisa Investment Advisors LLC Grows Stake in Trane Technologies plc (NYSE:TT)

Nisa Investment Advisors LLC lifted its position in shares of Trane Technologies plc (NYSE:TT) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,243 shares of the company’s stock after buying an additional 4,180 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Trane Technologies worth $45,143,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. PFG Private Wealth Management LLC grew its position in shares of Trane Technologies by 4.7% in the 2nd quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after buying an additional 32 shares during the last quarter. Center for Financial Planning Inc. raised its stake in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares in the last quarter. Muirfield Wealth Advisors LLC grew its stake in Trane Technologies by 4.1% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock worth $309,000 after purchasing an additional 37 shares in the last quarter. Pure Financial Advisors LLC raised its position in Trane Technologies by 5.2% in the 2nd quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock valued at $252,000 after purchasing an additional 38 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in shares of Trane Technologies by 2.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,760 shares of the company’s stock worth $528,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho boosted their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of Trane Technologies from $310.00 to $315.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Citigroup raised their price target on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Stephens reiterated an “equal weight” rating and set a $350.00 price target on shares of Trane Technologies in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and an average price target of $323.29.

Insiders Place Their Bets

In other news, EVP Raymond D. Pittard sold 1,805 shares of Trane Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the sale, the senior vice president now directly owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Insiders sold a total of 44,243 shares of company stock valued at $14,216,550 in the last quarter. Insiders own 0.38% of the company’s stock.

Trane Technologies Stock Performance

NYSE TT traded up $4.66 during trading hours on Monday, hitting $345.96. The company had a trading volume of 356,702 shares, compared to its average volume of 1,127,162. Trane Technologies plc has a fifty-two week low of $184.02 and a fifty-two week high of $351.41. The firm has a market cap of $78.31 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The business has a fifty day simple moving average of $333.39 and a 200-day simple moving average of $312.09. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $2.68 EPS. Equities analysts predict that Trane Technologies plc will post 10.83 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 paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. Trane Technologies’s payout ratio is presently 35.90%.

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.