Research Analysts Offer Predictions for TT Q3 Earnings

Trane Technologies plc (NYSE:TT) – Equities researchers at KeyCorp issued their Q3 2024 EPS estimates for shares of Trane Technologies in a research report issued to clients and investors on Monday, October 14th. KeyCorp analyst J. Hammond anticipates that the company will earn $3.25 per share for the quarter. The consensus estimate for Trane Technologies’ current full-year earnings is $10.88 per share. KeyCorp also issued estimates for Trane Technologies’ Q4 2024 earnings at $2.46 EPS and FY2025 earnings at $12.50 EPS.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and issued a $350.00 target price on shares of Trane Technologies in a report on Monday, August 5th. Mizuho lifted their price target on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada upped their price target on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price objective on Trane Technologies from $394.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $373.58.

Trane Technologies Stock Performance

NYSE TT opened at $400.14 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $367.98 and its two-hundred day moving average is $338.47. Trane Technologies has a 12-month low of $184.02 and a 12-month high of $406.96. The stock has a market capitalization of $90.57 billion, a price-to-earnings ratio of 42.75, a PEG ratio of 2.75 and a beta of 1.01.

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 the consensus estimate of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 earnings per share.

Trane Technologies Dividend Announcement

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 of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

Insiders Place Their Bets

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

Institutional Trading of Trane Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in TT. Empowered Funds LLC boosted its position in Trane Technologies by 138.0% during the 1st quarter. Empowered Funds LLC now owns 6,667 shares of the company’s stock worth $2,001,000 after purchasing an additional 3,866 shares during the period. Nordea Investment Management AB boosted its position in shares of Trane Technologies by 3.0% in the first quarter. Nordea Investment Management AB now owns 453,212 shares of the company’s stock worth $135,796,000 after buying an additional 13,078 shares during the period. Sei Investments Co. grew its stake in shares of Trane Technologies by 379.2% in the first quarter. Sei Investments Co. now owns 306,165 shares of the company’s stock valued at $91,909,000 after buying an additional 242,271 shares in the last quarter. Albar Capital Ltd acquired a new stake in shares of Trane Technologies in the second quarter valued at about $14,556,000. Finally, M&G Plc purchased a new stake in shares of Trane Technologies during the 1st quarter valued at about $8,939,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.