Trane Technologies plc Declares Quarterly Dividend of $1.05 (NYSE:TT)

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Friday, June 5th. Investors of record on Friday, September 4th will be paid a dividend of 1.05 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th.

Trane Technologies has decreased its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Trane Technologies has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Trane Technologies to earn $16.77 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 25.0%.

Trane Technologies Price Performance

Shares of NYSE:TT opened at $456.51 on Friday. The company’s fifty day moving average price is $458.85 and its 200 day moving average price is $431.33. Trane Technologies has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm has a market capitalization of $100.91 billion, a P/E ratio of 35.31, a P/E/G ratio of 2.14 and a beta of 1.20.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.53 by $0.10. Trane Technologies had a net margin of 13.41% and a return on equity of 35.55%. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same period last year, the business earned $2.45 EPS. Trane Technologies’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Trane Technologies will post 14.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TT has been the topic of several research analyst reports. Evercore initiated coverage on shares of Trane Technologies in a research note on Monday, April 13th. They set an “outperform” rating and a $535.00 price target on the stock. KeyCorp lifted their price target on shares of Trane Technologies from $525.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Trane Technologies from $460.00 to $476.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Royal Bank Of Canada lifted their price target on shares of Trane Technologies from $440.00 to $501.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Trane Technologies in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trane Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $506.56.

Trane Technologies Company Profile

Trane Technologies (NYSE: TT) is a global climate solutions company focused on heating, ventilation and air conditioning (HVAC) and transport refrigeration systems. The company develops, manufactures and sells a broad range of climate-control products under well-known brands, including commercial and residential HVAC equipment, building management systems and controls, and transport refrigeration units. Its product portfolio spans rooftop and packaged units, chillers, furnaces, air handlers, compressors, and related components designed for commercial buildings, industrial facilities, residences and transportation applications.

In addition to equipment, Trane Technologies provides lifecycle services that include installation, maintenance, parts, retrofit and aftermarket support, as well as digital and controls solutions for building performance and energy management.