Brokerages expect Trane Technologies plc (NYSE:TT) to report $2.86 billion in sales for the current fiscal quarter, Zacks Investment Research 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 posted sales of $2.64 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, May 4th.
According to Zacks, analysts expect that Trane Technologies will report full-year sales of $13.53 billion for the current year, with estimates ranging from $13.43 billion to $13.62 billion. For the next fiscal year, analysts anticipate that the company will report sales of $14.19 billion, with estimates ranging from $13.99 billion to $14.39 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that follow Trane Technologies.
Trane Technologies (NYSE:TT) last released its quarterly earnings data on Thursday, February 4th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.11. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. The firm's revenue for the quarter was down .2% compared to the same quarter last year.
Several equities research analysts have issued reports on TT shares. Jefferies Financial Group lifted their target price on shares of Trane Technologies from $140.00 to $160.00 and gave the company a "hold" rating in a research report on Friday, January 15th. Zacks Investment Research upgraded shares of Trane Technologies from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a research report on Wednesday, March 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Trane Technologies from $143.00 to $151.00 and gave the company a "hold" rating in a research report on Monday, February 8th. Royal Bank of Canada lifted their target price on shares of Trane Technologies from $137.00 to $145.00 and gave the company a "sector perform" rating in a research report on Monday, February 8th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price target on shares of Trane Technologies from $150.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, February 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of "Hold" and an average price target of $139.00.
In other Trane Technologies news, EVP Marcia J. Avedon sold 2,737 shares of the business's stock in a transaction on 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 business's stock in a transaction on Friday, February 5th. The shares were sold at an average price of $150.32, for a total transaction of $738,672.48. Following the transaction, the senior vice president now directly owns 16,561 shares in the company, valued at $2,489,449.52. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Trane Technologies by 4.7% during the 4th quarter. BlackRock Inc. now owns 17,933,014 shares of the company's stock valued at $2,603,156,000 after buying an additional 798,631 shares in the last quarter. FMR LLC boosted its holdings in shares of Trane Technologies by 52.3% during the 4th quarter. FMR LLC now owns 9,959,508 shares of the company's stock valued at $1,445,722,000 after buying an additional 3,421,200 shares in the last quarter. Norges Bank bought a new stake in shares of Trane Technologies during the 4th quarter valued at $410,327,000. Dimensional Fund Advisors LP boosted its holdings in shares of Trane Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,246,302 shares of the company's stock valued at $326,070,000 after buying an additional 11,506 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Trane Technologies by 19.7% during the 4th quarter. Federated Hermes Inc. now owns 1,857,437 shares of the company's stock valued at $269,625,000 after buying an additional 306,090 shares in the last quarter. 79.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trane Technologies stock opened at $166.50 on Thursday. Trane Technologies has a 1 year low of $73.73 and a 1 year high of $169.47. The firm has a market cap of $39.70 billion, a PE ratio of 44.64, a PEG ratio of 2.51 and a beta of 0.95. 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 has a 50 day simple moving average of $160.98 and a two-hundred day simple moving average of $145.35.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, March 5th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.42%. This is an increase from Trane Technologies's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, March 4th. Trane Technologies's payout ratio is presently 37.05%.
About Trane Technologies
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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