Trane Technologies (NYSE:TT) Releases FY24 Earnings Guidance

Trane Technologies (NYSE:TT) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $10.40-10.50 for the period, compared to the consensus earnings per share estimate of $10.25. The company issued revenue guidance of ~$19.1-19.3 billion, compared to the consensus revenue estimate of $18.99 billion. Trane Technologies also updated its FY 2024 guidance to 10.400-10.500 EPS.

Wall Street Analysts Forecast Growth

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

Trane Technologies Trading Up 8.0 %

Shares of NYSE:TT traded up $24.13 during trading on Tuesday, reaching $324.99. The company’s stock had a trading volume of 323,875 shares, compared to its average volume of 999,186. The stock has a market capitalization of $73.80 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.78 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $292.79 and its two-hundred day simple moving average is $255.54. Trane Technologies has a 12 month low of $162.04 and a 12 month high of $326.97.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.82 EPS. Trane Technologies’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Trane Technologies will post 10.2 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.84 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.36 annualized dividend and a yield of 1.03%. Trane Technologies’s payout ratio is currently 38.23%.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $267.74, for a total transaction of $438,290.38. Following the transaction, the senior vice president now directly owns 42,374 shares in the company, valued at approximately $11,345,214.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Trane Technologies news, SVP Keith A. Sultana sold 1,637 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $267.74, for a total transaction of $438,290.38. Following the sale, the senior vice president now owns 42,374 shares of the company’s stock, valued at approximately $11,345,214.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 1,983 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total value of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares of the company’s stock, valued at $11,591,469.50. The disclosure for this sale can be found here. Insiders sold a total of 29,874 shares of company stock valued at $8,462,825 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

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.