Trane Technologies (NYSE:TT) Releases FY 2022 Earnings Guidance – MarketBeat

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Trane Technologies (NYSE:TT – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.15-$7.20 for the period, compared to the consensus EPS estimate of $7.11. The company issued revenue guidance of $15.69 billion-$15.83 billion, compared to the consensus revenue estimate of $15.62 billion.

Trane Technologies Trading Down 1.0 %

TT traded down $1.69 on Wednesday, reaching $168.23. 7,709 shares of the company traded hands, compared to its average volume of 1,486,047. Trane Technologies has a one year low of $120.64 and a one year high of $204.23. The firm has a fifty day simple moving average of $153.92 and a two-hundred day simple moving average of $144.79. The company has a market cap of $38.74 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.00. The company has a quick ratio of 0.78, a current ratio of 1.14 and a debt-to-equity ratio of 0.65.

Trane Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 2nd will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $2.68 annualized dividend and a dividend yield of 1.59%. Trane Technologies’s dividend payout ratio is currently 38.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Trane Technologies from $151.00 to $155.00 and gave the company a hold rating in a report on Thursday, October 13th. BMO Capital Markets lifted their price objective on shares of Trane Technologies from $155.00 to $180.00 and gave the stock an outperform rating in a research report on Monday, August 15th. Wells Fargo & Company lifted their price objective on shares of Trane Technologies from $123.00 to $133.00 and gave the stock an underweight rating in a research report on Thursday, August 4th. Citigroup lifted their price objective on shares of Trane Technologies from $176.00 to $185.00 and gave the stock a buy rating in a research report on Thursday, November 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Trane Technologies from $155.00 to $162.00 and gave the stock a sector perform rating in a research report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $170.35.

Insider Activity at Trane Technologies

In related news, SVP Mairead Magner sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $165.00, for a total value of $165,000.00. Following the completion of the transaction, the senior vice president now directly owns 11,079 shares in the company, valued at approximately $1,828,035. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of large investors have recently modified their holdings of TT. Acadian Asset Management LLC purchased a new stake in shares of Trane Technologies in the first quarter valued at about $178,000. Blair William & Co. IL grew its holdings in shares of Trane Technologies by 3.0% in the first quarter. Blair William & Co. IL now owns 16,727 shares of the company’s stock valued at $2,554,000 after purchasing an additional 495 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Trane Technologies in the first quarter valued at about $219,000. Vanguard Group Inc. grew its holdings in shares of Trane Technologies by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,133,851 shares of the company’s stock valued at $2,769,040,000 after purchasing an additional 77,924 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Trane Technologies by 3.8% during the first quarter. Mackenzie Financial Corp now owns 956,177 shares of the company’s stock worth $146,008,000 after buying an additional 34,591 shares during the period. Hedge funds and other institutional investors own 80.25% of the company’s stock.

About Trane Technologies

(Get Rating)
Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of solutions for heating, ventilation, air conditioning, and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation products; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality assessments and related products; large and light commercial unitary products; motor replacements; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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Earnings History and Estimates for Trane Technologies (NYSE:TT)
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