Trane Technologies plc Plans Quarterly Dividend of $0.84 (NYSE:TT)

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Wednesday, October 9th,RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.84 per share on Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, December 6th.

Trane Technologies has raised its dividend by an average of 12.3% per year over the last three years. Trane Technologies has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Trane Technologies to earn $12.77 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 26.3%.

Trane Technologies Price Performance

NYSE TT opened at $412.56 on Wednesday. The business’s fifty day moving average is $399.13 and its 200 day moving average is $360.72. Trane Technologies has a fifty-two week low of $226.18 and a fifty-two week high of $422.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.22. The company has a market capitalization of $92.83 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Trane Technologies (NYSE:TT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.23 by $0.14. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.32 billion. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $2.79 EPS. Sell-side analysts predict that Trane Technologies will post 11.14 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Hsbc Global Res cut Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley initiated coverage on Trane Technologies in a report on Friday, September 6th. They set an “overweight” rating and a $425.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Trane Technologies from $320.00 to $360.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, Mizuho lifted their price objective on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $397.64.

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.