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

Trane Technologies (NYSE:TT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 10.400-10.500 for the period, compared to the consensus earnings per share 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.

Trane Technologies Stock Down 1.2 %

TT opened at $300.86 on Tuesday. Trane Technologies has a twelve month low of $162.04 and a twelve month high of $307.95. The company’s 50-day moving average price is $292.79 and its two-hundred day moving average price is $255.54. The stock has a market cap of $68.32 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 2.57 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 0.57.

Trane Technologies (NYSE:TT) last issued its quarterly earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Trane Technologies had a return on equity of 32.01% and a net margin of 11.45%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. As a group, equities analysts expect that Trane Technologies will post 10.2 earnings per share for the current year.

Trane Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 dividend on an annualized basis and a yield of 1.12%. Trane Technologies’s dividend payout ratio (DPR) is 38.23%.

Wall Street Analyst Weigh In

TT has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price on Trane Technologies from $253.00 to $287.00 and gave the stock a neutral rating in a research report on Monday, February 5th. Stephens upped their price objective on shares of Trane Technologies from $235.00 to $280.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Barclays lifted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective 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. Finally, Citigroup lifted their price objective on shares of Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies has a consensus rating of Hold and an average price target of $251.83.

Insider Buying and Selling at Trane Technologies

In related news, CEO David S. Regnery sold 6,990 shares of Trane Technologies 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 completion of the sale, the chief executive officer now directly owns 113,874 shares in the company, valued at approximately $32,589,600.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David S. Regnery sold 6,990 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith A. Sultana sold 1,983 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $272.26, for a total transaction of $539,891.58. Following the completion of the transaction, the senior vice president now directly owns 42,575 shares in the company, valued at approximately $11,591,469.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,874 shares of company stock worth $8,462,825. 0.39% of the stock is owned by corporate insiders.

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.