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

Trane Technologies (NYSE:TT) is scheduled to be announcing its earnings results before the market opens on Wednesday, October 30th. Analysts expect Trane Technologies to post earnings of $3.23 per share for the quarter. Trane Technologies has set its FY 2024 guidance at 10.800-10.800 EPS and its FY24 guidance at ~$10.80 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Trane Technologies (NYSE:TT) last issued its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $2.68 earnings per share. On average, analysts expect Trane Technologies to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Trane Technologies Stock Down 2.1 %

Shares of NYSE:TT opened at $392.20 on Wednesday. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $406.96. The company has a market capitalization of $88.78 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The company has a fifty day moving average of $371.79 and a 200-day moving average of $341.11.

Trane Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Trane Technologies’s payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TT shares. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Robert W. Baird upped their price target on shares of Trane Technologies from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price objective for the company. Finally, Stephens reiterated an “equal weight” rating and issued a $350.00 price target on shares of Trane Technologies in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $373.58.

Insider Transactions at Trane Technologies

In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total value of $593,213.25. Following the transaction, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares of the company’s stock, valued at approximately $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% 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.