Trane Technologies plc (NYSE:TT) to Issue Quarterly Dividend of $0.94

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders 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 1.06%. This is an increase 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 23.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Trane Technologies to earn $14.40 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 23.3%.

Trane Technologies Stock Performance

Shares of NYSE TT traded up $0.03 during mid-day trading on Wednesday, reaching $355.52. 41,943 shares of the company’s stock were exchanged, compared to its average volume of 1,498,467. The firm has a 50-day moving average price of $387.21 and a two-hundred day moving average price of $377.24. 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 market capitalization of $80.00 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Trane Technologies has a 52 week low of $265.37 and a 52 week high of $422.00.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.94% and a return on equity of 35.37%. Analysts predict that Trane Technologies will post 12.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on TT. Citigroup dropped their price objective on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price objective for the company. in a research note on Tuesday, January 28th. Barclays raised their price target on Trane Technologies from $440.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their price objective on Trane Technologies from $390.00 to $395.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Finally, Robert W. Baird reduced their price objective on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $415.25.

Insiders Place Their Bets

In other news, SVP Mairead Magner sold 4,329 shares of Trane Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total value of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

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.