What is KeyCorp’s Forecast for TT FY2024 Earnings?

Trane Technologies plc (NYSE:TT) – Research analysts at KeyCorp issued their FY2024 earnings estimates for shares of Trane Technologies in a research report issued on Monday, October 14th. KeyCorp analyst J. Hammond anticipates that the company will post earnings of $10.95 per share for the year. The consensus estimate for Trane Technologies’ current full-year earnings is $10.88 per share.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday. 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. Barclays boosted their target price on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of Trane Technologies from $334.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Trane Technologies has a consensus rating of “Hold” and an average target price of $373.58.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $400.14 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $406.96. The firm has a 50-day simple moving average of $367.98 and a 200 day simple moving average of $338.47. The company has a market cap of $90.57 billion, a PE ratio of 42.75, a P/E/G ratio of 2.75 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Trust Point Inc. increased its stake in Trane Technologies by 3.1% in the 3rd quarter. Trust Point Inc. now owns 897 shares of the company’s stock valued at $349,000 after buying an additional 27 shares during the period. Aaron Wealth Advisors LLC increased its stake in Trane Technologies by 33.3% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $446,000 after buying an additional 287 shares during the period. Stonegate Investment Group LLC acquired a new position in Trane Technologies in the 3rd quarter valued at approximately $5,343,000. Claro Advisors LLC acquired a new position in Trane Technologies in the 3rd quarter valued at approximately $441,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Trane Technologies by 6.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 8,935 shares of the company’s stock worth $3,473,000 after purchasing an additional 564 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David S. Regnery sold 29,450 shares of the business’s 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 sale, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’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 transaction of $593,213.25. Following the sale, the executive vice president now owns 83,517 shares in the company, valued at $27,447,862.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 6th. Trane Technologies’s dividend payout ratio is presently 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.