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

Trane Technologies (NYSE:TTGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 11.100-11.100 for the period, compared to the consensus estimate of 10.900. The company issued revenue guidance of $19.6 billion-$19.6 billion, compared to the consensus revenue estimate of $19.6 billion. Trane Technologies also updated its FY24 guidance to $11.10 EPS.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. HSBC lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $405.00 price objective on the stock. in a research note on Thursday. Stephens reissued an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a research note on Monday, August 5th. Hsbc Global Res lowered Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday. Barclays upped their price target on shares of Trane Technologies from $425.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has a consensus rating of “Hold” and a consensus target price of $380.15.

View Our Latest Report on Trane Technologies

Trane Technologies Stock Performance

TT traded up $5.99 on Friday, hitting $376.15. The company had a trading volume of 1,550,860 shares, compared to its average volume of 1,106,589. Trane Technologies has a 1-year low of $211.31 and a 1-year high of $406.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.84. The company’s fifty day moving average price is $377.36 and its 200 day moving average price is $344.79. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01.

Trane Technologies (NYSE:TTGet Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.14. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. Trane Technologies’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $2.79 EPS. Equities analysts predict that Trane Technologies will post 10.89 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.89%. Trane Technologies’s payout ratio is 31.17%.

Insider Buying and Selling at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Trane Technologies news, EVP Raymond D. Pittard sold 1,805 shares of the company’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 value of $593,213.25. Following the completion of the transaction, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

About Trane Technologies

(Get Free Report)

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.

See Also

Earnings History and Estimates for Trane Technologies (NYSE:TT)

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