Trane Technologies (TT) Scheduled to Post Quarterly Earnings on Tuesday

Trane Technologies (NYSE:TT) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce 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.Parties interested in listening to the company’s conference call can do so using this link.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company 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 Trading Up 1.0 %

Shares of NYSE:TT opened at $291.15 on Tuesday. The company has a market cap of $66.11 billion, a P/E ratio of 33.12, a PEG ratio of 2.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $306.98. The stock’s fifty day moving average price is $290.05 and its 200-day moving average price is $252.29.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 yield of 1.15%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is 38.23%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total value of $2,000,468.10. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 2,767 shares of Trane Technologies stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $268.31, for a total transaction of $742,413.77. Following the completion of the sale, the chief financial officer now directly owns 54,788 shares of the company’s stock, valued at approximately $14,700,168.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David S. Regnery sold 6,990 shares of Trane Technologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total value of $2,000,468.10. Following the sale, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock valued at $8,462,825 in the last ninety days. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.