Trane Technologies plc Expected to Earn Q3 2024 Earnings of $3.25 Per Share (NYSE:TT)

Trane Technologies plc (NYSE:TT) – Investment analysts at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for shares of Trane Technologies in a research report issued on Monday, October 14th. KeyCorp analyst J. Hammond anticipates that the company will post earnings of $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.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. Barclays raised their price target on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. 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. Morgan Stanley initiated coverage on Trane Technologies in a research note on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Royal Bank of Canada upped their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, 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 research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and a consensus price target of $367.33.

Trane Technologies Stock Performance

Trane Technologies stock opened at $397.50 on Wednesday. The stock’s 50 day moving average is $365.09 and its 200 day moving average is $337.64. The company has a market capitalization of $89.97 billion, a P/E ratio of 42.47, a PEG ratio of 2.75 and a beta of 1.01. Trane Technologies has a twelve month low of $184.02 and a twelve month high of $406.96. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62.

Institutional Investors Weigh In On Trane Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. GoalVest Advisory LLC lifted its stake in Trane Technologies by 157.1% during the 1st quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Trane Technologies during the 1st quarter valued at about $27,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Trane Technologies in the first quarter valued at approximately $30,000. Fortitude Family Office LLC lifted its holdings in Trane Technologies by 63.2% in the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $37,000 after acquiring an additional 43 shares during the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Trane Technologies during the second quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 83,517 shares in the company, valued at $27,447,862.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of the firm’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 transaction, the chief executive officer now directly owns 132,946 shares in the company, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.84 per share. The ex-dividend date is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Trane Technologies’s payout ratio is 35.90%.

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.