Jefferies Financial Group Inc. Makes New Investment in Trane Technologies plc (NYSE:TT)

Jefferies Financial Group Inc. bought a new position in Trane Technologies plc (NYSE:TT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,166 shares of the company’s stock, valued at approximately $1,908,000.

Several other hedge funds have also recently made changes to their positions in TT. Sound Income Strategies LLC raised its holdings in shares of Trane Technologies by 1,314.3% during the fourth quarter. Sound Income Strategies LLC now owns 99 shares of the company’s stock valued at $37,000 after purchasing an additional 92 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter valued at $37,000. Golden State Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at $39,000. BankPlus Trust Department purchased a new stake in Trane Technologies during the fourth quarter valued at $45,000. Finally, Centricity Wealth Management LLC purchased a new stake in Trane Technologies during the fourth quarter valued at $55,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Trane Technologies

In related news, insider Donald E. Simmons sold 3,571 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $380.00, for a total value of $1,356,980.00. Following the completion of the transaction, the insider now directly owns 3,593 shares of the company’s stock, valued at approximately $1,365,340. This trade represents a 49.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by insiders.

Trane Technologies Trading Up 1.4%

Shares of TT stock opened at $422.17 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.88 and a current ratio of 1.21. Trane Technologies plc has a 52-week low of $298.15 and a 52-week high of $424.46. The stock has a fifty day simple moving average of $353.01 and a two-hundred day simple moving average of $372.66. The firm has a market capitalization of $94.15 billion, a PE ratio of 37.53, a PEG ratio of 2.50 and a beta of 1.14.

Trane Technologies (NYSE:TT) last released its earnings results on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the business posted $1.94 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $0.94 per share. The ex-dividend date is Friday, June 6th. This represents a $3.76 annualized dividend and a yield of 0.89%. Trane Technologies’s payout ratio is 31.28%.

Analyst Upgrades and Downgrades

TT has been the subject of several research reports. Citigroup upped their price target on shares of Trane Technologies from $415.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company upped their target price on shares of Trane Technologies from $330.00 to $370.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Stephens upgraded Trane Technologies from an “equal weight” rating to an “overweight” rating and set a $475.00 price objective for the company in a research note on Thursday, May 1st. UBS Group reduced their price objective on Trane Technologies from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Robert W. Baird upped their price objective on Trane Technologies from $360.00 to $396.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $421.07.

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.