Jefferies Financial Group Inc. Purchases Shares of 2,640 Trane Technologies plc $TT

Jefferies Financial Group Inc. acquired a new stake in shares of Trane Technologies plc (NYSE:TT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,640 shares of the company’s stock, valued at approximately $1,114,000.

Several other large investors have also recently modified their holdings of the stock. Financial Consulate Inc. bought a new stake in shares of Trane Technologies in the 3rd quarter valued at about $25,000. Icon Advisers Inc. Co. bought a new position in Trane Technologies during the 2nd quarter worth approximately $26,000. United Community Bank increased its stake in Trane Technologies by 134.4% in the 3rd quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the period. Halbert Hargrove Global Advisors LLC lifted its position in Trane Technologies by 34.2% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 102 shares of the company’s stock valued at $43,000 after purchasing an additional 26 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Trane Technologies by 58.2% during the third quarter. Hantz Financial Services Inc. now owns 106 shares of the company’s stock valued at $45,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Trane Technologies Stock Performance

Shares of TT stock opened at $421.53 on Friday. The firm has a market capitalization of $93.30 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.28 and a beta of 1.19. The stock has a fifty day moving average of $425.78 and a 200 day moving average of $417.23. Trane Technologies plc has a 52 week low of $298.15 and a 52 week high of $479.37. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $2.61 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current year.

Trane Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $1.05 per share. This is an increase from Trane Technologies’s previous quarterly dividend of $0.94. This represents a $4.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Trane Technologies’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Trane Technologies in a report on Wednesday, January 21st. Bank of America raised shares of Trane Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $490.00 to $550.00 in a research report on Thursday, November 13th. KeyCorp raised shares of Trane Technologies from a “sector weight” rating to an “overweight” rating and set a $500.00 price target on the stock in a report on Monday, December 15th. Morgan Stanley decreased their price objective on shares of Trane Technologies from $550.00 to $535.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, Citigroup increased their target price on shares of Trane Technologies from $513.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $484.67.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 36,045 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total value of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares of the company’s stock, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Elizabeth A. Elwell sold 635 shares of Trane Technologies stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the sale, the chief accounting officer directly owned 7,100 shares in the company, valued at approximately $3,001,170. The trade was a 8.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,378 shares of company stock valued at $21,228,464 in the last three months. Corporate insiders own 0.14% of the company’s stock.

About Trane Technologies

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.