Trane Technologies (NYSE:TT) Releases FY 2024 Earnings Guidance

Trane Technologies (NYSE:TT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.400-10.500 for the period, compared to the consensus EPS estimate of 10.240. The company issued revenue guidance of $19.1 billion-$19.3 billion, compared to the consensus revenue estimate of $19.0 billion. Trane Technologies also updated its FY24 guidance to $10.40-10.50 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Mizuho lifted their price target on Trane Technologies from $280.00 to $325.00 and gave the company a neutral rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an underweight rating in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $231.00 to $246.00 and gave the stock a sector perform rating in a report on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, Stephens raised their price target on shares of Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trane Technologies presently has an average rating of Hold and a consensus price target of $300.54.

Trane Technologies Trading Up 0.8 %

Shares of TT traded up $2.55 during mid-day trading on Friday, reaching $319.34. The stock had a trading volume of 1,074,503 shares, compared to its average volume of 1,033,256. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.78. The business’s fifty day moving average is $295.08 and its 200 day moving average is $257.16. Trane Technologies has a 52-week low of $162.04 and a 52-week high of $327.09. The firm has a market cap of $72.28 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Trane Technologies will post 10.47 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, June 6th. Trane Technologies’s dividend payout ratio is currently 35.90%.

Insider Activity

In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the completion of the sale, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher J. Kuehn sold 2,767 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $268.31, for a total value of $742,413.77. Following the completion of the transaction, the chief financial officer now owns 54,788 shares in the company, valued at approximately $14,700,168.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,237 shares of company stock worth $8,024,534. 0.39% of the stock is currently owned by company insiders.

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.