Trane Technologies plc (NYSE:TT) Plans 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 given 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 increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Trane Technologies has a dividend payout ratio of 26.0% 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 $3.76 annual dividend with an expected future payout ratio of 26.6%.

Trane Technologies Stock Performance

Shares of Trane Technologies stock traded up $5.26 on Wednesday, reaching $440.62. 2,787,720 shares of the company traded hands, compared to its average volume of 2,151,069. The company has a 50 day moving average of $396.85 and a 200 day moving average of $414.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.92. Trane Technologies has a 52 week low of $298.15 and a 52 week high of $476.18. The firm has a market capitalization of $97.70 billion, a PE ratio of 33.95, a PEG ratio of 2.13 and a beta of 1.21.

Trane Technologies (NYSE:TT) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS 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 business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. Trane Technologies’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts forecast that Trane Technologies will post 12.83 earnings per share for the current year.

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.