Trane Technologies plc (NYSE:TT – Get Rating) – Stock analysts at William Blair lowered their Q3 2022 earnings per share (EPS) estimates for shares of Trane Technologies in a research note issued to investors on Wednesday, August 3rd. William Blair analyst N. Heymann now expects that the company will post earnings per share of $2.12 for the quarter, down from their prior estimate of $2.19. The consensus estimate for Trane Technologies’ current full-year earnings is $7.08 per share. William Blair also issued estimates for Trane Technologies’ Q1 2023 earnings at $1.24 EPS, Q2 2023 earnings at $2.36 EPS, Q3 2023 earnings at $2.42 EPS and Q4 2023 earnings at $1.88 EPS.
Trane Technologies (NYSE:TT – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.06. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.11 billion. Trane Technologies had a return on equity of 25.03% and a net margin of 10.06%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS.
Trane Technologies Stock Performance
TT stock opened at $154.34 on Friday. The business’s fifty day moving average is $134.28 and its 200-day moving average is $145.21. The company has a quick ratio of 0.91, a current ratio of 1.09 and a debt-to-equity ratio of 0.66. The company has a market cap of $36.09 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. Trane Technologies has a twelve month low of $120.64 and a twelve month high of $204.23.
Trane Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a $0.67 dividend. The ex-dividend date is Thursday, September 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.74%. Trane Technologies’s payout ratio is 42.81%.
Institutional Investors Weigh In On Trane Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Trane Technologies during the fourth quarter valued at approximately $578,209,000. JPMorgan Chase & Co. raised its position in Trane Technologies by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 19,753,665 shares of the company’s stock valued at $3,016,386,000 after purchasing an additional 2,159,166 shares in the last quarter. Capital World Investors acquired a new position in Trane Technologies during the fourth quarter valued at approximately $340,147,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Trane Technologies during the first quarter valued at approximately $210,269,000. Finally, First Trust Advisors LP raised its position in Trane Technologies by 2,606.5% during the first quarter. First Trust Advisors LP now owns 1,081,171 shares of the company’s stock valued at $165,095,000 after purchasing an additional 1,041,224 shares in the last quarter. 80.55% of the stock is currently owned by institutional investors and hedge funds.
About Trane Technologies
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.
- Get a free copy of the StockNews.com research report on Trane Technologies (TT)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Trane Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trane Technologies and related companies with MarketBeat.com's FREE daily email newsletter.