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

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 given a dividend of 0.94 per share on Monday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 1.08%.

Trane Technologies has raised its dividend payment by an average of 12.5% per year over the last three years. Trane Technologies has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 2.0 %

Shares of NYSE TT opened at $348.45 on Thursday. The company has a market cap of $78.15 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The stock’s 50 day simple moving average is $354.67 and its 200 day simple moving average is $379.61. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58. Trane Technologies has a 12-month low of $286.32 and a 12-month high of $422.00.

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 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%. Equities research analysts expect that Trane Technologies will post 12.83 EPS for the current year.

Insider Activity

In other news, SVP Evan M. Turtz sold 318 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $7,346,115.56. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mairead Magner sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $357.61, for a total transaction of $70,806.78. Following the sale, the senior vice president now owns 13,401 shares of the company’s stock, valued at approximately $4,792,331.61. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,234 shares of company stock worth $2,588,102 over the last 90 days. 0.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

An institutional investor recently raised its position in Trane Technologies stock. Brighton Jones LLC lifted its position in Trane Technologies plc (NYSE:TT) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,194 shares of the company’s stock after buying an additional 2,323 shares during the quarter. Brighton Jones LLC’s holdings in Trane Technologies were worth $2,288,000 as of its most recent filing with the SEC. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TT has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of Trane Technologies from $500.00 to $470.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Melius downgraded shares of Trane Technologies from a “buy” rating to a “hold” rating and set a $398.00 price target on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on shares of Trane Technologies from $380.00 to $360.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Barclays dropped their target price on Trane Technologies from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Melius Research reaffirmed a “hold” rating and set a $398.00 price target on shares of Trane Technologies in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $413.69.

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.