Trane Technologies (TT) Set to Announce Earnings on Wednesday

Trane Technologies (NYSE:TT - Get Free Report) is scheduled to be announcing its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $3.23 per share for the quarter. Trane Technologies has set its FY 2024 guidance at 10.800-10.800 EPS and its FY24 guidance at ~$10.80 EPS.Individual that are interested in registering for the company's earnings conference call can do so using this link.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating analysts' consensus estimates of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The firm 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 company posted $2.68 EPS. The business's revenue was up 12.8% on a year-over-year basis. On average, analysts expect Trane Technologies to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Trane Technologies Trading Up 0.5 %

Shares of TT traded up $2.00 during mid-day trading on Wednesday, reaching $394.20. 142,724 shares of the company were exchanged, compared to its average volume of 1,092,417. The business has a 50 day simple moving average of $371.79 and a two-hundred day simple moving average of $341.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17. The stock has a market capitalization of $89.23 billion, a PE ratio of 41.90, a PEG ratio of 2.75 and a beta of 1.01. Trane Technologies has a 52 week low of $184.02 and a 52 week high of $406.96.

Trane Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a $0.84 dividend. 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 dividend payout ratio (DPR) is currently 35.90%.

Insider Activity at Trane Technologies

In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 132,946 shares of the company's stock, valued at $42,708,902.50. The trade was 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 at this link. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on 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 owns 132,946 shares of the company's stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 directly owns 83,517 shares of the company's stock, valued at approximately $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Trane Technologies from $334.00 to $350.00 and gave the company a "sector perform" rating in a research note on Thursday, August 1st. Stephens reaffirmed an "equal weight" rating and set a $350.00 target price on shares of Trane Technologies in a research note on Monday, August 5th. Wells Fargo & Company boosted their price target on Trane Technologies from $320.00 to $360.00 and gave the company an "underweight" rating in a research note on Monday, October 7th. Finally, Morgan Stanley began coverage on shares of Trane Technologies in a research report on Friday, September 6th. They set an "overweight" rating and a $425.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $373.58.

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.