Trane Technologies (NYSE:TT) Issues FY24 Earnings Guidance

Trane Technologies (NYSE:TT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of ~$10.80 for the period, compared to the consensus EPS estimate of $10.55. The company issued revenue guidance of ~$19.45 billion, compared to the consensus revenue estimate of $19.27 billion. Trane Technologies also updated its FY 2024 guidance to 10.800-10.800 EPS.

Trane Technologies Trading Up 6.0 %

Trane Technologies stock opened at $348.59 on Wednesday. The stock has a market capitalization of $78.90 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The business’s fifty day moving average is $332.02 and its 200 day moving average is $304.65. Trane Technologies has a one year low of $184.02 and a one year high of $350.12.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Trane Technologies will post 10.49 EPS for the current year.

Trane Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 6th. Trane Technologies’s dividend payout ratio is presently 35.90%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TT. Stephens raised their price target on Trane Technologies from $310.00 to $320.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. Robert W. Baird lifted their target price on Trane Technologies from $344.00 to $360.00 and gave the stock a neutral rating in a report on Monday, July 15th. Barclays lifted their target price on Trane Technologies from $380.00 to $385.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a buy rating in a report on Monday, June 3rd. Finally, Citigroup lifted their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a buy rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies presently has a consensus rating of Hold and an average target price of $312.36.

Insider Buying and Selling at Trane Technologies

In other Trane Technologies news, SVP Evan M. Turtz sold 8,988 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the sale, the senior vice president now owns 20,758 shares in the company, valued at approximately $6,669,545.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the sale, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total value of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares of the company’s stock, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Company insiders own 0.38% 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.