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

Trane Technologies plc (NYSE:TT) – Stock analysts at KeyCorp issued their Q3 2024 earnings per share (EPS) estimates for shares of Trane Technologies in a report issued 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 announced its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.08 by $0.22. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the company earned $2.68 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year.

A number of other analysts also recently commented on the company. The Goldman Sachs Group increased their price target on Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. Wells Fargo & Company raised their price target on Trane Technologies from $320.00 to $360.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada increased their price objective on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $367.33.

Trane Technologies Stock Down 0.5 %

TT stock opened at $395.37 on Wednesday. The company has a market cap of $89.49 billion, a P/E ratio of 42.24, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies has a fifty-two week low of $184.02 and a fifty-two week high of $406.96. The stock’s 50 day simple moving average is $366.53 and its 200 day simple moving average is $338.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 1.17.

Trane Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Trane Technologies’s dividend payout ratio is presently 35.90%.

Insider Transactions at Trane Technologies

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

Hedge Funds Weigh In On Trane Technologies

Several institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont grew its holdings in Trane Technologies by 21.6% in the third quarter. Trust Co. of Vermont now owns 411 shares of the company’s stock worth $160,000 after purchasing an additional 73 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Trane Technologies by 78.3% during the third quarter. Bleakley Financial Group LLC now owns 6,612 shares of the company’s stock valued at $2,570,000 after buying an additional 2,904 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Trane Technologies by 37.5% during the third quarter. Global Retirement Partners LLC now owns 1,723 shares of the company’s stock valued at $670,000 after buying an additional 470 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Trane Technologies by 1.6% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 3,282 shares of the company’s stock valued at $1,276,000 after buying an additional 51 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Trane Technologies during the third quarter valued at $1,011,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.