Trane Technologies plc (TT) To Go Ex-Dividend on March 6th

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Wednesday, February 4th. Investors of record on Friday, March 6th will be given a dividend of 1.05 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend 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 decreased its dividend by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 5 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 $14.11 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 29.8%.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $436.06 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.25. Trane Technologies has a one year low of $298.15 and a one year high of $476.18. The business’s 50 day moving average price is $397.57 and its 200 day moving average price is $414.71. The company has a market cap of $96.69 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.32 and a beta of 1.21.

Trane Technologies (NYSE:TT) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.05. Trane Technologies had a return on equity of 36.34% and a net margin of 13.69%.The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the company posted $2.61 EPS. Trane Technologies’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts predict that Trane Technologies will post 12.83 EPS for the current year.

Institutional Trading of Trane Technologies

A number of institutional investors have recently bought and sold shares of TT. NorthRock Partners LLC increased its stake in shares of Trane Technologies by 1.2% in the 2nd quarter. NorthRock Partners LLC now owns 2,052 shares of the company’s stock valued at $898,000 after acquiring an additional 24 shares in the last quarter. King Luther Capital Management Corp increased its stake in Trane Technologies by 1.3% in the second quarter. King Luther Capital Management Corp now owns 1,942 shares of the company’s stock valued at $849,000 after purchasing an additional 24 shares in the last quarter. Old Port Advisors raised its holdings in shares of Trane Technologies by 3.2% during the third quarter. Old Port Advisors now owns 778 shares of the company’s stock valued at $328,000 after purchasing an additional 24 shares during the period. OneAscent Wealth Management LLC boosted its position in shares of Trane Technologies by 1.5% during the 3rd quarter. OneAscent Wealth Management LLC now owns 1,627 shares of the company’s stock worth $686,000 after purchasing an additional 24 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in shares of Trane Technologies by 3.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 670 shares of the company’s stock valued at $285,000 after buying an additional 24 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.