Trane Technologies plc (TT) To Go Ex-Dividend on September 6th

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Friday, June 7th, Wall Street Journal reports. Investors of record on Friday, September 6th will be given a dividend of 0.84 per share on Monday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, September 6th.

Trane Technologies has increased its dividend by an average of 12.3% annually over the last three years. Trane Technologies has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Trane Technologies to earn $12.09 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 27.8%.

Trane Technologies Trading Down 4.3 %

NYSE TT opened at $346.18 on Wednesday. The firm has a market cap of $78.12 billion, a P/E ratio of 36.99, a P/E/G ratio of 2.51 and a beta of 1.01. Trane Technologies has a one year low of $184.02 and a one year high of $363.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The stock’s 50-day moving average is $337.68 and its 200-day moving average is $318.87.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. Trane Technologies’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. Sell-side analysts anticipate that Trane Technologies will post 10.82 earnings per share for the current fiscal year.

Insider Activity at Trane Technologies

In related news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trane Technologies news, CEO David S. Regnery sold 29,450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total value of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares in the company, valued at $42,708,902.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raymond D. Pittard sold 1,805 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $328.65, for a total transaction of $593,213.25. Following the sale, the executive vice president now directly owns 83,517 shares of the company’s stock, valued at $27,447,862.05. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

TT has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Trane Technologies from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Stephens reaffirmed an “equal weight” rating and set a $350.00 price objective on shares of Trane Technologies in a research report on Monday, August 5th. Barclays raised their target price on shares of Trane Technologies from $385.00 to $394.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on shares of Trane Technologies from $310.00 to $315.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trane Technologies currently has an average rating of “Hold” and a consensus price target of $323.29.

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.