Trane (NYSE:TT) Releases Earnings Results, Beats Estimates By $0.50 EPS

Trane (NYSE:TT) issued its quarterly earnings data on Wednesday. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.50, reports. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.77 billion. Trane had a net margin of 6.76% and a return on equity of 18.82%. The business’s revenue was down 14.3% on a year-over-year basis.

NYSE TT traded up $1.01 during mid-day trading on Friday, reaching $111.87. 1,273,540 shares of the stock were exchanged, compared to its average volume of 1,632,618. The stock has a market cap of $26.78 billion, a P/E ratio of 28.18 and a beta of 1.36. The company has a quick ratio of 1.20, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The business has a 50 day simple moving average of $94.48. Trane has a 1 year low of $70.00 and a 1 year high of $146.85.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 3rd. Trane’s dividend payout ratio is currently 33.28%.

In other news, SVP Keith A. Sultana sold 1,314 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $101.35, for a total transaction of $133,173.90. Following the sale, the senior vice president now directly owns 22,317 shares in the company, valued at approximately $2,261,827.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Trane from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Trane from $81.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Thursday. Cowen downgraded shares of Trane from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $107.00 to $85.00 in a research report on Thursday, May 14th. Robert W. Baird dropped their target price on shares of Trane from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, Zacks Investment Research raised shares of Trane from a “sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Trane currently has an average rating of “Hold” and a consensus target price of $102.79.

Trane Company Profile

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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Earnings History for Trane (NYSE:TT)

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