Trane Technologies plc (NYSE:TT) Declares Dividend Increase – $0.94 Per Share

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.94 per share on Monday, March 31st. This represents a $3.76 dividend on an annualized basis and a dividend 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% per year over the last three years. Trane Technologies has a payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 0.6 %

Trane Technologies stock opened at $357.47 on Thursday. The stock has a market cap of $80.44 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.18 and a beta of 1.05. 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 $265.37 and a twelve month high of $422.00. The company’s 50-day moving average price is $386.03 and its two-hundred day moving average price is $377.10.

Trane Technologies (NYSE:TT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.61 earnings per share for the quarter, beating 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%. As a group, analysts expect that Trane Technologies will post 12.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of Trane Technologies from $478.00 to $476.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Hsbc Global Res lowered shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Mizuho increased their target price on shares of Trane Technologies from $325.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Melius Research restated a “hold” rating and set a $398.00 target price on shares of Trane Technologies in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their target price on shares of Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $415.25.

Insider Transactions at Trane Technologies

In related news, SVP Mairead Magner sold 4,329 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was 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 owns 12,893 shares in the company, valued at $5,363,488. The trade was a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

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.