Zacks Research Analysts Raise Earnings Estimates for Trane Technologies plc (NYSE:TT)

Trane Technologies plc (NYSE:TT) – Equities researchers at Zacks Research raised their Q2 2024 EPS estimates for Trane Technologies in a research note issued on Tuesday, May 21st. Zacks Research analyst A. Bose now forecasts that the company will post earnings of $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.

A number of other equities analysts have also commented on TT. JPMorgan Chase & Co. increased their price target on shares of Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. The Goldman Sachs Group increased 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. Citigroup increased 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. Robert W. Baird raised their target price on shares of Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $300.54.

Trane Technologies Stock Down 0.2 %

TT opened at $332.92 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.58. The stock has a market cap of $75.36 billion, a price-to-earnings ratio of 35.57, a PEG 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. The company’s 50-day moving average price is $308.24 and its two-hundred day moving average price is $271.00.

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

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 7th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity

In related news, EVP Paul A. Camuti sold 5,643 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.30, for a total value of $1,626,876.90. Following the completion of the sale, the executive vice president now directly owns 88,770 shares in the company, valued at approximately $25,592,391. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul A. Camuti sold 5,643 shares of Trane Technologies stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $288.30, for a total transaction of $1,626,876.90. Following the transaction, the executive vice president now directly owns 88,770 shares of the company’s stock, valued at $25,592,391. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,979 shares of company stock worth $6,603,372. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TT. BKM Wealth Management LLC purchased a new stake in Trane Technologies in the 4th quarter valued at about $25,000. Motco purchased a new stake in Trane Technologies in the 4th quarter valued at about $27,000. Sachetta LLC purchased a new stake in Trane Technologies in the 4th quarter valued at about $27,000. GoalVest Advisory LLC raised its holdings in Trane Technologies by 157.1% in the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 55 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies in the 1st quarter valued at about $27,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.