Q1 2023 EPS Estimates for Trane Technologies plc (NYSE:TT) Boosted by Analyst

Posted by on Apr 27th, 2023

Trane Technologies plc (NYSE:TT – Get Rating) – Equities research analysts at Oppenheimer upped their Q1 2023 earnings per share (EPS) estimates for shares of Trane Technologies in a report released on Monday, April 24th. Oppenheimer analyst N. Kaye now expects that the company will post earnings of $1.31 per share for the quarter, up from their prior forecast of $1.12. Oppenheimer currently has a “Market Perform” rating on the stock. The consensus estimate for Trane Technologies’ current full-year earnings is $8.23 per share. Oppenheimer also issued estimates for Trane Technologies’ Q4 2023 earnings at $1.94 EPS.

Several other equities research analysts have also recently weighed in on TT. The Goldman Sachs Group decreased their price target on Trane Technologies from $203.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday, April 14th. Wells Fargo & Company cut their target price on Trane Technologies from $176.00 to $163.00 and set an “underweight” rating for the company in a research note on Thursday, April 13th. UBS Group upped their target price on Trane Technologies from $200.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Mizuho upped their target price on Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Royal Bank of Canada upped their target price on Trane Technologies from $164.00 to $177.00 and gave the stock a “sector perform” rating in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.61.

Trane Technologies Trading Down 0.6 %

Shares of TT opened at $177.69 on Wednesday. The business’s 50-day moving average price is $181.07 and its 200-day moving average price is $174.37. Trane Technologies has a twelve month low of $120.64 and a twelve month high of $196.22. The stock has a market cap of $40.52 billion, a PE ratio of 23.72, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of 0.62.

Trane Technologies (NYSE:TT – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.18. Trane Technologies had a return on equity of 29.14% and a net margin of 10.98%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the business posted $1.36 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Trane Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,490,139 shares of the company’s stock valued at $2,677,558,000 after buying an additional 61,456 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Trane Technologies by 48.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,366,040 shares of the company’s stock worth $777,057,000 after purchasing an additional 1,745,741 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Trane Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,685,369 shares of the company’s stock worth $786,124,000 after purchasing an additional 115,545 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Trane Technologies by 56.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,790,429 shares of the company’s stock worth $549,178,000 after purchasing an additional 1,368,481 shares during the period. Finally, Norges Bank purchased a new position in shares of Trane Technologies in the 4th quarter worth approximately $526,026,000. Institutional investors own 81.47% of the company’s stock.

Insiders Place Their Bets

In other Trane Technologies news, SVP Keith A. Sultana sold 3,521 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $185.07, for a total value of $651,631.47. Following the completion of the transaction, the senior vice president now owns 34,616 shares in the company, valued at $6,406,383.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Trane Technologies news, EVP Paul A. Camuti sold 7,950 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $190.78, for a total value of $1,516,701.00. Following the transaction, the executive vice president now directly owns 89,021 shares of the company’s stock, valued at $16,983,426.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Keith A. Sultana sold 3,521 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $185.07, for a total value of $651,631.47. Following the completion of the transaction, the senior vice president now directly owns 34,616 shares in the company, valued at approximately $6,406,383.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,967 shares of company stock worth $3,007,750. 0.74% of the stock is owned by corporate insiders.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.69%. Trane Technologies’s dividend payout ratio (DPR) is 40.05%.

About Trane Technologies

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Trane Technologies Plc engages in providing solutions to buildings, homes, and transportation. It operates through the following business segments: Americas, EMEA, and Asia Pacific. The Americas segment encompasses 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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Earnings History and Estimates for Trane Technologies (NYSE:TT)

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