Trane Technologies (TT) Set to Announce Earnings on Tuesday

Trane Technologies (NYSE:TT) is scheduled to post 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. Trane Technologies’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm 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 Price Performance

TT opened at $304.53 on Friday. The stock 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. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $292.22 and a 200 day moving average price of $254.57.

Trane Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Trane Technologies

In other news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction dated Thursday, February 8th. The stock was 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 $11,591,469.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Keith A. Sultana sold 1,983 shares of Trane Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the sale, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Christopher J. Kuehn sold 3,762 shares of Trane Technologies stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 61,691 shares in the company, valued at $17,673,237.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,874 shares of company stock worth $8,462,825. Company 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.