Trane Technologies plc (NYSE:TT) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in Trane Technologies plc (NYSE:TT) by 37.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,481 shares of the company’s stock after selling 48,281 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Trane Technologies were worth $27,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TT. Vanguard Group Inc. increased its stake in shares of Trane Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 19,235,570 shares of the company’s stock valued at $7,104,658,000 after acquiring an additional 152,353 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Trane Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,775,263 shares of the company’s stock valued at $1,760,549,000 after acquiring an additional 136,349 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Trane Technologies by 4.1% in the fourth quarter. Ameriprise Financial Inc. now owns 3,343,390 shares of the company’s stock valued at $1,234,908,000 after buying an additional 130,867 shares during the period. Norges Bank purchased a new position in Trane Technologies in the 4th quarter worth approximately $1,117,816,000. Finally, Northern Trust Corp boosted its holdings in Trane Technologies by 20.1% in the 4th quarter. Northern Trust Corp now owns 2,567,527 shares of the company’s stock worth $948,316,000 after acquiring an additional 429,953 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Trane Technologies from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Barclays upped their price target on Trane Technologies from $476.00 to $480.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group upped their price target on Trane Technologies from $416.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Hsbc Global Res upgraded Trane Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $434.00.

Insider Transactions at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of Trane Technologies stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the transaction, the insider directly owned 3,593 shares of the company’s stock, valued at $1,365,340. The trade was a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Price Performance

Shares of TT opened at $433.49 on Thursday. The firm has a market capitalization of $96.68 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 1.09. Trane Technologies plc has a one year low of $298.15 and a one year high of $438.95. The stock’s fifty day moving average is $424.42 and its 200-day moving average is $380.38.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.25. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.46 billion. Trane Technologies had a return on equity of 36.10% and a net margin of 13.47%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. Equities analysts anticipate that Trane Technologies plc will post 12.83 EPS for the current year.

Trane Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, September 5th. Trane Technologies’s payout ratio is currently 31.28%.

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.