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

Trane Technologies plc (NYSE:TT - Get Free Report) announced a quarterly dividend on Thursday, April 3rd, RTT News reports. Shareholders of record on Friday, June 6th will be given a dividend of 0.94 per share on Monday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, June 6th.

Trane Technologies has increased its dividend payment by an average of 12.5% annually over the last three years. Trane Technologies has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.7 %

Shares of TT stock traded up $5.44 during trading hours on Tuesday, reaching $321.61. 608,977 shares of the company's stock were exchanged, compared to its average volume of 1,609,534. Trane Technologies has a 1 year low of $286.32 and a 1 year high of $422.00. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. The stock has a market cap of $72.13 billion, a PE ratio of 28.59, a PEG ratio of 2.50 and a beta of 1.08. The stock's fifty day moving average price is $350.60 and its two-hundred day moving average price is $378.54.

Trane Technologies (NYSE:TT - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Trane Technologies will post 12.83 EPS for the current year.

Remove Ads

Insiders Place Their Bets

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $358.12, for a total value of $113,882.16. Following the completion of the sale, the senior vice president now directly owns 20,513 shares in the company, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mairead Magner sold 198 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,234 shares of company stock worth $2,588,102. Company insiders own 0.38% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Trane Technologies stock. Brighton Jones LLC boosted its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 60.0% during the fourth quarter, according to its most recent Form 13F 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 quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Melius Research reiterated a "hold" rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. Royal Bank of Canada upped their target price on Trane Technologies from $390.00 to $395.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. Wells Fargo & Company reduced their price target on shares of Trane Technologies from $380.00 to $360.00 and set an "underweight" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on shares of Trane Technologies from $396.00 to $323.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Barclays reduced their target price on shares of Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $409.13.

About Trane Technologies

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.