Q2 2024 Earnings Estimate for Trane Technologies plc Issued By Zacks Research (NYSE:TT)

Trane Technologies plc (NYSE:TT) – Research analysts at Zacks Research upped their Q2 2024 earnings estimates for Trane Technologies in a report released on Tuesday, May 21st. Zacks Research analyst A. Bose now forecasts that the company will earn $3.05 per share for the quarter, up from their prior estimate of $2.96. The consensus estimate for Trane Technologies’ current full-year earnings is $10.48 per share. Zacks Research also issued estimates for Trane Technologies’ Q3 2024 earnings at $3.07 EPS, FY2024 earnings at $10.31 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $3.12 EPS, Q3 2025 earnings at $3.21 EPS, FY2025 earnings at $11.05 EPS, Q1 2026 earnings at $2.54 EPS and FY2026 earnings at $13.10 EPS.

Several other equities analysts also recently weighed in on the stock. Mizuho raised their price target on shares of Trane Technologies from $280.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on shares of Trane Technologies from $355.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $300.54.

Trane Technologies Stock Performance

NYSE:TT opened at $332.92 on Thursday. The company’s 50-day moving average price is $308.24 and its 200-day moving average price is $271.00. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a market cap of $75.36 billion, a P/E ratio of 35.57, a P/E/G ratio of 2.67 and a beta of 1.01. Trane Technologies has a twelve month low of $162.04 and a twelve month high of $336.66.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.30. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.36 annualized dividend and a dividend yield of 1.01%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Transactions at Trane Technologies

In other news, SVP Evan M. Turtz sold 2,821 shares of Trane Technologies stock in a transaction on Monday, March 4th. The shares were sold at an average price of $288.33, for a total value of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares of the company’s stock, valued at approximately $5,976,792.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares of the company’s stock, valued at approximately $17,673,237.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Evan M. Turtz sold 2,821 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $288.33, for a total transaction of $813,378.93. Following the transaction, the senior vice president now directly owns 20,729 shares in the company, valued at $5,976,792.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,979 shares of company stock worth $6,603,372. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trane Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Trane Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after buying an additional 174,251 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after buying an additional 80,536 shares in the last quarter. FMR LLC boosted its position in shares of Trane Technologies by 12.4% in the 3rd quarter. FMR LLC now owns 5,743,154 shares of the company’s stock worth $1,165,343,000 after buying an additional 632,598 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Trane Technologies by 2.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,050,779 shares of the company’s stock worth $821,952,000 after buying an additional 103,823 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Trane Technologies by 0.6% in the 3rd quarter. Morgan Stanley now owns 2,797,382 shares of the company’s stock worth $567,617,000 after buying an additional 17,758 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.