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 EPS guidance of $10.40-10.50 for the period, compared to the consensus EPS 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 Analyst Weigh In

TT has been the topic of a number of research reports. The Goldman Sachs Group boosted their price target on Trane Technologies from $253.00 to $287.00 and gave the company a neutral rating in a report on Monday, February 5th. Stephens upped their target price on Trane Technologies from $235.00 to $280.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. Citigroup boosted their price target on Trane Technologies from $309.00 to $355.00 and gave the stock a buy rating in a research report on Monday, April 8th. Barclays boosted their target price on shares of Trane Technologies from $286.00 to $325.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada upped their target price on shares of Trane Technologies from $231.00 to $246.00 and gave the company a sector perform rating in a report on Friday, February 2nd. 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 currently has an average rating of Hold and a consensus target price of $251.83.

Trane Technologies Trading Up 8.0 %

Shares of NYSE:TT traded up $24.13 during mid-day trading on Tuesday, reaching $324.99. 323,875 shares of the company’s stock were exchanged, compared to its average volume of 999,186. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.78 and a current ratio of 1.13. Trane Technologies has a twelve month low of $162.04 and a twelve month high of $326.97. The firm has a market capitalization of $73.80 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 2.57 and a beta of 1.05. The business’s fifty day moving average price is $292.79 and its 200-day moving average price is $255.54.

Trane Technologies (NYSE:TT) last announced its earnings results on Thursday, February 1st. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.13 by $0.04. The business 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 firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. On average, research analysts predict that Trane Technologies will post 10.2 EPS for the current fiscal year.

Trane Technologies Announces Dividend

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

Insider Activity

In related news, CEO David S. Regnery sold 6,990 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $286.19, for a total transaction of $2,000,468.10. Following the transaction, the chief executive officer now directly owns 113,874 shares of the company’s stock, valued at approximately $32,589,600.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Trane Technologies news, EVP Paul A. Camuti sold 508 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $273.34, for a total transaction of $138,856.72. Following the completion of the sale, the executive vice president now directly owns 89,447 shares of the company’s stock, valued at approximately $24,449,442.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Regnery sold 6,990 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 113,874 shares in the company, valued at approximately $32,589,600.06. The disclosure for this sale can be found here. Insiders sold 29,874 shares of company stock worth $8,462,825 in the last quarter. 0.39% of the stock is owned by corporate 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.