Trane Technologies (TT) Set to Announce Earnings on Tuesday

Trane Technologies (NYSE:TT) will be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Trane Technologies to post earnings of $1.64 per share for the quarter. Trane Technologies has set its FY 2024 guidance at 10.000-10.300 EPS and its FY24 guidance at $10.00-$10.30 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.43 billion. Trane Technologies had a net margin of 11.45% and a return on equity of 32.01%. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. On average, analysts expect Trane Technologies to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Trane Technologies Stock Performance

Shares of TT stock opened at $304.53 on Friday. The firm has a market cap of $69.15 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.53 and a beta of 1.05. The company’s 50 day moving average is $292.22 and its 200 day moving average is $254.57. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $306.98.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s payout ratio is 38.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TT shares. Royal Bank of Canada raised their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Barclays raised their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Stephens lifted their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group lifted their price objective on shares of Trane Technologies from $253.00 to $287.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, Citigroup boosted their target price on shares of Trane Technologies from $309.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $251.83.

Insider Buying and Selling at Trane Technologies

In related news, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at approximately $11,591,469.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Trane Technologies news, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $272.26, for a total value of $539,891.58. Following the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 1,637 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the completion of the transaction, the senior vice president now owns 42,374 shares in the company, valued at $11,345,214.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,874 shares of company stock valued at $8,462,825. Corporate insiders own 0.39% of the company’s stock.

About Trane Technologies

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.