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

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Wednesday, February 4th. Shareholders of record on Friday, March 6th will be paid a dividend of 1.05 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a 11.7% increase from Trane Technologies’s previous quarterly dividend of $0.94.

Trane Technologies has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Trane Technologies has a payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Research 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 1.2%

TT stock traded up $5.26 during midday trading on Wednesday, hitting $440.62. The company had a trading volume of 2,787,720 shares, compared to its average volume of 2,151,069. The stock has a market cap of $97.70 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 2.13 and a beta of 1.21. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $476.18. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $396.85 and its 200 day moving average price is $414.38.

Trane Technologies (NYSE:TT) last issued its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.81 by $0.05. Trane Technologies had a net margin of 13.69% and a return on equity of 36.34%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Trane Technologies will post 12.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TT shares. UBS Group lowered their price objective on shares of Trane Technologies from $544.00 to $520.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Barclays upped their price target on Trane Technologies from $505.00 to $507.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price objective on Trane Technologies from $469.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on Trane Technologies from $434.00 to $460.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Melius Research raised Trane Technologies from a “hold” rating to a “buy” rating and set a $490.00 price target for the company in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $484.67.

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.