Trane Technologies plc to Post Q3 2024 Earnings of $3.25 Per Share, KeyCorp Forecasts (NYSE:TT)

Trane Technologies plc (NYSE:TT) – Equities research analysts at KeyCorp issued their Q3 2024 earnings estimates for shares of Trane Technologies in a research report issued to clients and investors on Monday, October 14th. KeyCorp analyst J. Hammond forecasts that the company will earn $3.25 per share for the quarter. The consensus estimate for Trane Technologies’ current full-year earnings is $10.88 per share. KeyCorp also issued estimates for Trane Technologies’ Q4 2024 earnings at $2.46 EPS and FY2025 earnings at $12.50 EPS.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a net margin of 12.33% and a return on equity of 33.97%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird upped their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. The Goldman Sachs Group upped their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their target price on Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Trane Technologies presently has a consensus rating of “Hold” and an average price target of $367.33.

Trane Technologies Trading Down 0.5 %

Shares of NYSE TT opened at $395.37 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $89.49 billion, a PE ratio of 42.24, a PEG ratio of 2.75 and a beta of 1.01. Trane Technologies has a twelve month low of $184.02 and a twelve month high of $406.96. The stock has a fifty day simple moving average of $366.53 and a 200-day simple moving average of $338.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Trane Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 18,887,514 shares of the company’s stock worth $5,670,032,000 after acquiring an additional 174,251 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Trane Technologies by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,393,733 shares of the company’s stock worth $5,221,599,000 after purchasing an additional 80,536 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Trane Technologies by 0.3% in the second quarter. Mackenzie Financial Corp now owns 1,085,468 shares of the company’s stock valued at $357,043,000 after buying an additional 2,898 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Trane Technologies by 41.2% during the 1st quarter. TD Asset Management Inc now owns 1,060,632 shares of the company’s stock worth $318,402,000 after acquiring an additional 309,738 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Trane Technologies by 2.2% in the 2nd quarter. Raymond James & Associates now owns 1,044,405 shares of the company’s stock valued at $343,536,000 after purchasing an additional 22,023 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now directly owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following 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. Insiders own 0.38% of the company’s stock.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, December 6th. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

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.