Trane Technologies (NYSE:TT – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 3rd. Analysts expect the company to announce earnings of $1.31 per share for the quarter. Trane Technologies has set its FY23 guidance at $8.20-$8.50 EPS. Parties that wish to listen to the company’s conference call can do so using this link.
Trane Technologies (NYSE:TT – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.64 by $0.18. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Trane Technologies had a net margin of 10.98% and a return on equity of 29.14%. Trane Technologies’ revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, analysts expect Trane Technologies to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Trane Technologies Price Performance
Shares of NYSE:TT opened at $185.81 on Monday. The company has a 50 day moving average of $181.14 and a 200 day moving average of $175.12. The stock has a market cap of $42.37 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.04 and a beta of 0.99. Trane Technologies has a 12 month low of $120.64 and a 12 month high of $196.22. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.62.
Trane Technologies Announces Dividends
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.00 annualized dividend and a yield of 1.61%. Trane Technologies’ dividend payout ratio is currently 40.05%.
Insiders Place Their Bets
In other Trane Technologies news, EVP Paul A. Camuti sold 434 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $185.98, for a total value of $80,715.32. Following the completion of the transaction, the executive vice president now directly owns 89,053 shares in the company, valued at approximately $16,562,076.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via the SEC website. In related news, EVP Paul A. Camuti sold 690 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $180.64, for a total value of $124,641.60. Following the completion of the transaction, the executive vice president now directly owns 87,865 shares in the company, valued at approximately $15,871,933.60. The sale was disclosed in a document filed with the SEC, which can be accessed via this hyperlink. Also, EVP Paul A. Camuti sold 434 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $185.98, for a total transaction of $80,715.32. Following the completion of the transaction, the executive vice president now owns 89,053 shares of the company’s stock, valued at $16,562,076.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,967 shares of company stock worth $3,007,750. 0.74% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. PDT Partners LLC bought a new position in shares of Trane Technologies in the 2nd quarter worth about $225,000. Kingsview Wealth Management LLC purchased a new stake in Trane Technologies during the 3rd quarter valued at about $219,000. Sequoia Financial Advisors LLC purchased a new stake in Trane Technologies during the 1st quarter valued at about $219,000. qPULA Trading Management LP purchased a new stake in Trane Technologies during the 1st quarter valued at about $219,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Trane Technologies during the 4th quarter valued at about $217,000. 81.47% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equity analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Trane Technologies from $203.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, April 14th. Royal Bank of Canada boosted their price target on shares of Trane Technologies from $164.00 to $177.00 and gave the stock a “sector performing” rating in a research note on Friday, February 3rd. UBS Group boosted their price target on shares of Trane Technologies from $200.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Mizuho boosted their price target on shares of Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Stephens boosted their price target on shares of Trane Technologies from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. Three equity research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $181.61.
Trane Technologies Company Profile
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Trane Technologies Plc is engaged in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment includes commercial heating and cooling systems, building controls, and energy services and solutions, residential heating and cooling, and transport refrigeration systems, and solutions in North America and Latin America regions.
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