Trane Technologies plc (TT) to Issue Quarterly Dividend of $0.94 on March 31st

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Sunday, January 5th, RTT News reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.94 per share on Monday, March 31st. This represents a $3.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Trane Technologies’s previous quarterly dividend of $0.84.

Trane Technologies has increased its dividend by an average of 12.5% per year over the last three years. Trane Technologies has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Trane Technologies to earn $14.11 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 26.6%.

Trane Technologies Stock Performance

Shares of NYSE TT opened at $342.70 on Wednesday. The stock has a market cap of $76.86 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a fifty day moving average price of $369.87 and a 200-day moving average price of $380.69. Trane Technologies has a 1 year low of $279.00 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Equities analysts anticipate that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trane Technologies news, CFO Christopher J. Kuehn sold 770 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $358.39, for a total transaction of $275,960.30. Following the transaction, the chief financial officer now owns 62,221 shares of the company’s stock, valued at $22,299,384.19. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $357.34, for a total value of $984,114.36. Following the completion of the transaction, the chief executive officer now owns 132,969 shares in the company, valued at $47,515,142.46. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

A hedge fund recently raised its stake in Trane Technologies stock. Brighton Jones LLC raised its position in Trane Technologies plc (NYSE:TT) by 60.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,194 shares of the company’s stock after purchasing an additional 2,323 shares during the period. Brighton Jones LLC’s holdings in Trane Technologies were worth $2,288,000 at the end of the most recent reporting period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TT shares. Melius Research reaffirmed a “hold” rating and set a $398.00 price objective on shares of Trane Technologies in a research report on Tuesday, January 28th. Barclays increased their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price target on shares of Trane Technologies from $390.00 to $395.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price target on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $415.25.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.