Jefferies Financial Group Comments on Trane Technologies plc’s Q2 2022 Earnings (NYSE:TT)

Trane Technologies plc (NYSE:TTGet Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2022 earnings per share estimates for shares of Trane Technologies in a research note issued to investors on Wednesday, May 4th. Jefferies Financial Group analyst S. Volkmann now anticipates that the company will post earnings of $2.10 per share for the quarter, up from their previous estimate of $1.70. Jefferies Financial Group also issued estimates for Trane Technologies’ Q3 2022 earnings at $2.10 EPS and Q4 2022 earnings at $1.79 EPS.

TT has been the subject of several other research reports. Mizuho reduced their price target on shares of Trane Technologies from $205.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, February 1st. Citigroup cut their target price on shares of Trane Technologies from $205.00 to $190.00 in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Trane Technologies from $185.00 to $174.00 and set an “underweight” rating for the company in a research report on Tuesday, February 1st. Barclays cut their target price on shares of Trane Technologies from $205.00 to $180.00 in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $201.00 target price for the company in a research report on Monday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average price target of $189.31.

Shares of NYSE:TT opened at $134.22 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.04 and a current ratio of 1.31. The company has a market cap of $31.39 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03. Trane Technologies has a 52 week low of $131.48 and a 52 week high of $207.06. The firm has a 50 day simple moving average of $150.27 and a 200 day simple moving average of $170.94.

Trane Technologies (NYSE:TTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.99 by $0.13. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.15 billion. Trane Technologies had a net margin of 10.01% and a return on equity of 23.67%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS.

Institutional investors have recently modified their holdings of the business. Aristotle Atlantic Partners LLC boosted its holdings in Trane Technologies by 4.7% in the 3rd quarter. Aristotle Atlantic Partners LLC now owns 28,461 shares of the company’s stock valued at $4,914,000 after purchasing an additional 1,266 shares during the period. CWM LLC bought a new position in shares of Trane Technologies during the 4th quarter worth about $482,000. Keybank National Association OH lifted its holdings in shares of Trane Technologies by 8.1% during the 4th quarter. Keybank National Association OH now owns 31,545 shares of the company’s stock worth $6,373,000 after acquiring an additional 2,356 shares during the period. BLB&B Advisors LLC lifted its holdings in shares of Trane Technologies by 2.0% during the 4th quarter. BLB&B Advisors LLC now owns 41,329 shares of the company’s stock worth $8,350,000 after acquiring an additional 815 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Trane Technologies by 61.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,931,479 shares of the company’s stock worth $506,120,000 after acquiring an additional 1,116,733 shares during the period. 80.55% of the stock is owned by hedge funds and other institutional investors.

In other Trane Technologies news, SVP Keith A. Sultana sold 5,885 shares of the stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $160.00, for a total value of $941,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.74% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 3rd will be paid a $0.67 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 2.00%. Trane Technologies’s payout ratio is presently 44.59%.

Trane Technologies Company Profile (Get Rating)

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.

Further Reading

Earnings History and Estimates for Trane Technologies (NYSE:TT)

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