Trane Technologies plc (NYSE:TT) Expected to Post Quarterly Sales of $2.86 Billion


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Analysts expect that Trane Technologies plc (NYSE:TT) will report sales of $2.86 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Trane Technologies’ earnings. The highest sales estimate is $2.92 billion and the lowest is $2.84 billion. Trane Technologies reported sales of $2.64 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The firm is scheduled to announce its next earnings report on Tuesday, May 4th.

On average, analysts expect that Trane Technologies will report full year sales of $13.53 billion for the current fiscal year, with estimates ranging from $13.43 billion to $13.62 billion. For the next fiscal year, analysts anticipate that the business will post sales of $14.19 billion, with estimates ranging from $13.99 billion to $14.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Trane Technologies.

Trane Technologies (NYSE:TT) last posted its quarterly earnings results on Thursday, February 4th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.11. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Trane Technologies’s revenue for the quarter was down .2% compared to the same quarter last year.

Several equities analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Trane Technologies from $137.00 to $145.00 and gave the company a “sector perform” rating in a report on Monday, February 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Trane Technologies from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Wednesday, March 17th. Barclays upped their price objective on shares of Trane Technologies from $173.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, April 6th. Morgan Stanley upped their price objective on shares of Trane Technologies from $150.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Finally, Credit Suisse Group upped their price objective on shares of Trane Technologies from $158.00 to $166.00 and gave the company an “outperform” rating in a report on Monday, February 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Trane Technologies presently has a consensus rating of “Hold” and an average target price of $139.00.

NYSE TT traded up $2.97 on Thursday, hitting $169.55. 821,808 shares of the stock were exchanged, compared to its average volume of 1,192,521. Trane Technologies has a 52 week low of $73.73 and a 52 week high of $169.62. The company has a market capitalization of $40.43 billion, a PE ratio of 45.46, a P/E/G ratio of 2.51 and a beta of 0.95. The business’s fifty day moving average is $161.59 and its 200 day moving average is $145.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.67 and a quick ratio of 1.38.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.39%. Trane Technologies’s payout ratio is 37.05%.

In other Trane Technologies news, EVP Marcia J. Avedon sold 2,737 shares of the stock in a transaction dated Tuesday, February 9th. The shares were sold at an average price of $147.16, for a total transaction of $402,776.92. Also, SVP Keith A. Sultana sold 4,914 shares of the stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $150.32, for a total transaction of $738,672.48. Following the completion of the transaction, the senior vice president now directly owns 16,561 shares of the company’s stock, valued at approximately $2,489,449.52. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Sterling Financial Planning Inc. bought a new position in shares of Trane Technologies in the fourth quarter worth about $26,000. Arkadios Wealth Advisors raised its holdings in Trane Technologies by 180.0% in the 4th quarter. Arkadios Wealth Advisors now owns 182 shares of the company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. Sage Private Wealth Group LLC bought a new position in Trane Technologies in the 4th quarter valued at approximately $36,000. NuWave Investment Management LLC raised its holdings in Trane Technologies by 1,056.5% in the 4th quarter. NuWave Investment Management LLC now owns 266 shares of the company’s stock valued at $39,000 after buying an additional 243 shares during the last quarter. Finally, RWM Asset Management LLC bought a new position in Trane Technologies in the 4th quarter valued at approximately $39,000. 79.85% of the stock is owned by hedge funds and other institutional investors.

Trane Technologies Company Profile

Trane Technologies Plc engages in the provision of products, services, and solutions to enhance the quality, energy, and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. It operates through the following segments: Americas, EMEA, and Asia Pacific.

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