Q2 2023 EPS Estimates for Trane Technologies plc Decreased by Analyst (NYSE:TT)

Posted by Defense World Staff on May 6th, 2023

Trane Technologies plc (NYSE:TT – Get Rating) – Research analysts at KeyCorp cut their Q2 2023 EPS estimates for shares of Trane Technologies in a note issued to investors on Wednesday, May 3rd. KeyCorp analyst J. Hammond now anticipates that the company will post earnings per share of $2.55 for the quarter, down from their prior forecast of $2.56. The consensus estimate for Trane Technologies’ current full-year earnings is $8.41 per share. KeyCorp also issued estimates for Trane Technologies’ Q3 2023 earnings at $2.58 EPS, Q4 2023 earnings at $1.96 EPS, FY2023 earnings at $8.50 EPS and FY2024 earnings at $9.40 EPS.

Trane Technologies (NYSE:TT – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.08. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.64 billion. Trane Technologies had a net margin of 11.06% and a return on equity of 30.11%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share.

A number of other research analysts also recently commented on TT. Robert W. Baird decreased their price objective on shares of Trane Technologies from $200.00 to $192.00 in a research report on Thursday. Argus boosted their target price on shares of Trane Technologies from $185.00 to $200.00 in a report on Wednesday, February 8th. UBS Group upped their price objective on shares of Trane Technologies from $200.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, March 7th. Mizuho upped their price objective on shares of Trane Technologies from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Finally, Citigroup increased their target price on shares of Trane Technologies from $204.00 to $218.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $182.58.

Trane Technologies Trading Up 0.5 %

TT opened at $176.81 on Friday. The firm’s fifty day moving average is $181.12 and its two-hundred day moving average is $175.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a market cap of $40.32 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.94 and a beta of 0.99. Trane Technologies has a twelve month low of $120.64 and a twelve month high of $196.22.

Institutional Trading of Trane Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Catalyst Financial Partners LLC boosted its position in shares of Trane Technologies by 3.9% during the 1st quarter. Catalyst Financial Partners LLC now owns 1,586 shares of the company’s stock worth $292,000 after acquiring an additional 59 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in Trane Technologies by 2.9% in the third quarter. Waldron Private Wealth LLC now owns 2,155 shares of the company’s stock valued at $312,000 after acquiring an additional 60 shares during the last quarter. CVA Family Office LLC raised its position in shares of Trane Technologies by 11.3% in the third quarter. CVA Family Office LLC now owns 590 shares of the company’s stock valued at $85,000 after purchasing an additional 60 shares during the period. Transamerica Financial Advisors Inc. increased its holdings in Trane Technologies by 9.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 736 shares of the company’s stock worth $107,000 after acquiring an additional 61 shares during the period. Finally, Buckley Wealth Management LLC increased its holdings in shares of Trane Technologies by 1.4% in the 4th quarter. Buckley Wealth Management LLC now owns 4,814 shares of the company’s stock worth $809,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.

Insider Activity

In other Trane Technologies news, SVP Keith A. Sultana sold 3,521 shares of Trane Technologies stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 34,616 shares in the company, valued at approximately $6,406,383.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Keith A. Sultana sold 3,521 shares of Trane Technologies stock in a transaction on Monday, February 6th. The stock was sold at an average price of $185.07, for a total transaction of $651,631.47. Following the completion of the transaction, the senior vice president now directly owns 34,616 shares of the company’s stock, valued at $6,406,383.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Evan M. Turtz sold 2,095 shares of Trane Technologies stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $190.83, for a total value of $399,788.85. Following the completion of the sale, the senior vice president now directly owns 19,601 shares of the company’s stock, valued at approximately $3,740,458.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,071 shares of company stock worth $2,841,093. 0.74% of the stock is currently owned by insiders.

Trane Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be issued a $0.75 dividend. The ex-dividend date is Thursday, June 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.70%. Trane Technologies’s payout ratio is currently 38.86%.

About Trane Technologies

(Get Rating)

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.