Nisa Investment Advisors LLC Acquires 40,457 Shares of Trane Technologies plc (NYSE:TT)

Nisa Investment Advisors LLC lifted its stake in Trane Technologies plc (NYSE:TT) by 45.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 128,762 shares of the company’s stock after acquiring an additional 40,457 shares during the period. Nisa Investment Advisors LLC’s holdings in Trane Technologies were worth $47,558,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TT. MidAtlantic Capital Management Inc. acquired a new stake in shares of Trane Technologies during the 3rd quarter valued at about $27,000. Global Wealth Strategies & Associates acquired a new position in Trane Technologies in the fourth quarter worth $26,000. DT Investment Partners LLC bought a new stake in shares of Trane Technologies during the third quarter valued at approximately $36,000. Pittenger & Anderson Inc. acquired a new stake in shares of Trane Technologies in the 3rd quarter valued at $39,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Trane Technologies in the 3rd quarter valued at about $44,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the transaction, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. This trade 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 through this link. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

TT stock opened at $397.02 on Wednesday. The stock has a 50-day moving average price of $395.28 and a two-hundred day moving average price of $374.22. Trane Technologies plc has a 1 year low of $249.21 and a 1 year high of $422.00. The stock has a market cap of $89.34 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. Trane Technologies had a return on equity of 34.62% and a net margin of 12.73%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm earned $2.79 EPS. Trane Technologies’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts forecast that Trane Technologies plc will post 11.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TT shares. Citigroup cut their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on Trane Technologies from $390.00 to $380.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on Trane Technologies from $390.00 to $387.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. The Goldman Sachs Group raised their target price on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, HSBC downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price target on the stock. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $420.64.

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.