Trane Technologies plc (TT) to Issue Quarterly Dividend of $0.94 on June 30th

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Thursday, April 3rd, RTT News reports. Stockholders of record on Friday, June 6th will be paid a dividend of 0.94 per share on Monday, June 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, June 6th.

Trane Technologies has raised its dividend by an average of 12.5% annually over the last three years. Trane Technologies has a payout ratio of 26.2% 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

NYSE:TT opened at $318.18 on Friday. The firm has a market capitalization of $71.36 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.50 and a beta of 1.08. The company has a fifty day moving average of $351.63 and a 200-day moving average of $378.92. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.58. Trane Technologies has a twelve month low of $286.32 and a twelve month high of $422.00.

Trane Technologies (NYSE:TT) last posted its earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.09. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. As a group, sell-side analysts anticipate that Trane Technologies will post 12.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TT. Barclays lowered their target price on shares of Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Melius Research restated a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on Trane Technologies from $380.00 to $360.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada lifted their target price 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. Finally, Citigroup lowered their price objective on Trane Technologies from $478.00 to $476.00 and set a “buy” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $413.69.

Insider Activity

In other Trane Technologies news, SVP Mairead Magner sold 198 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $357.61, for a total value of $70,806.78. Following the completion of the transaction, the senior vice president now owns 13,401 shares in the company, valued at $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David S. Regnery sold 2,754 shares of Trane Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were 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. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,234 shares of company stock valued at $2,588,102. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trane Technologies

An institutional investor recently raised its position in Trane Technologies stock. Brighton Jones LLC boosted its position in Trane Technologies plc (NYSE:TT) by 60.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,194 shares of the company’s stock after acquiring 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. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.