Trane Technologies (NYSE:TT) Issues FY21 Earnings Guidance

Trane Technologies (NYSE:TT) issued an update on its FY21 earnings guidance on Friday morning. The company provided EPS guidance of $5.30-5.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.17. Trane Technologies also updated its FY 2021
Pre-Market guidance to 5.30-5.50 EPS.

Shares of TT stock traded up $0.51 during trading hours on Friday, hitting $149.35. The company’s stock had a trading volume of 2,020,381 shares, compared to its average volume of 1,439,447. The business has a fifty day moving average of $147.20 and a 200-day moving average of $132.17. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 40.04, a P/E/G ratio of 2.51 and a beta of 0.95. Trane Technologies has a twelve month low of $70.00 and a twelve month high of $156.27. The company has a current ratio of 1.67, a quick ratio of 1.38 and a debt-to-equity ratio of 0.70.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Friday, February 5th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Trane Technologies had a net margin of 6.75% and a return on equity of 18.42%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that Trane Technologies will post 4.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Friday, March 5th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 4th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.58%. Trane Technologies’s dividend payout ratio is currently 33.28%.

TT has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Trane Technologies from $155.00 to $165.00 and gave the company an overweight rating in a research note on Monday, November 30th. Zacks Investment Research raised shares of Trane Technologies from a hold rating to a strong-buy rating and set a $152.00 price objective on the stock in a research note on Saturday, October 31st. Bank of America downgraded shares of Trane Technologies from a buy rating to an underperform rating and set a $155.00 price objective on the stock. in a research note on Wednesday, November 11th. Wolfe Research raised shares of Trane Technologies from an underperform rating to a peer perform rating in a research note on Tuesday, December 8th. Finally, The Goldman Sachs Group downgraded shares of Trane Technologies from a buy rating to a neutral rating and set a $154.00 price objective on the stock. in a research note on Thursday, November 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Trane Technologies presently has a consensus rating of Hold and an average target price of $128.78.

In related news, EVP Marcia J. Avedon sold 16,000 shares of the firm’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $145.26, for a total transaction of $2,324,160.00. Following the completion of the sale, the executive vice president now directly owns 125,155 shares of the company’s stock, valued at approximately $18,180,015.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael W. Lamach sold 232,115 shares of the firm’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $144.81, for a total transaction of $33,612,573.15. Following the sale, the chief executive officer now directly owns 373,424 shares of the company’s stock, valued at $54,075,529.44. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Trane Technologies Company Profile

Trane Technologies plc provides climate control solutions for buildings, homes, and transportation. It offers 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; industrial refrigeration 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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