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. Investors 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 yield of 1.05%. This is a boost from Trane Technologies’s previous quarterly dividend of $0.84.

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 23.5% indicating that its dividend is sufficiently covered by earnings. Equities 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

TT stock opened at $357.47 on Thursday. 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 company has a 50 day moving average price of $386.03 and a 200 day moving average price of $377.10. Trane Technologies has a fifty-two week low of $265.37 and a fifty-two week high of $422.00. The stock has a market capitalization of $80.44 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 earnings per share 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 forecast that Trane Technologies will post 12.79 EPS for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have commented on TT. Northcoast Research began coverage on shares of Trane Technologies in a research report on Friday, November 22nd. They set a “buy” rating and a $500.00 target price for the company. Barclays upped their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird dropped their target price on shares of Trane Technologies from $408.00 to $404.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Trane Technologies from $387.00 to $396.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Melius lowered shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target for the company. in a report on Tuesday, January 28th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $415.25.

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.