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

Trane Technologies (NYSE:TT) will be issuing 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. 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 Stock Performance

Trane Technologies stock opened at $291.15 on Tuesday. The business has a 50 day moving average of $290.05 and a 200-day moving average of $252.29. Trane Technologies has a 1 year low of $162.04 and a 1 year high of $306.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.13 and a quick ratio of 0.78. The company has a market capitalization of $66.11 billion, a P/E ratio of 33.12, a P/E/G ratio of 2.43 and a beta of 1.05.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 38.23%.

Insiders Place Their Bets

In related news, CFO Christopher J. Kuehn sold 3,762 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total value of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 3,762 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $286.48, for a total transaction of $1,077,737.76. Following the transaction, the chief financial officer now directly owns 61,691 shares in the company, valued at approximately $17,673,237.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul A. Camuti sold 508 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $273.34, for a total value of $138,856.72. Following the transaction, the executive vice president now owns 89,447 shares in the company, valued at $24,449,442.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,874 shares of company stock worth $8,462,825. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.