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

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Wednesday, April 1st. Stockholders of record on Friday, June 5th will be given a dividend of 1.05 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, June 5th.

Trane Technologies has decreased its dividend payment by an average of 0.3%annually 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% meaning its dividend is sufficiently covered by earnings. Research 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

TT opened at $459.21 on Wednesday. The company has a market capitalization of $101.51 billion, a price-to-earnings ratio of 35.52, a PEG ratio of 2.07 and a beta of 1.20. Trane Technologies has a twelve month low of $348.06 and a twelve month high of $503.47. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $455.94 and a 200-day moving average price of $430.21.

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

About Trane Technologies

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.