Trane Technologies plc (TT) to Issue Quarterly Dividend of $1.05 on June 30th

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Wednesday, April 1st. Investors of record on Friday, June 5th will be paid a dividend of 1.05 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date 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. 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 TT opened at $459.21 on Wednesday. The business’s 50-day moving average is $455.94 and its two-hundred day moving average is $430.21. The company has a market capitalization of $101.51 billion, a P/E ratio of 35.52, a P/E/G ratio of 2.07 and a beta of 1.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.10. Trane Technologies has a fifty-two week low of $348.06 and a fifty-two week high of $503.47.

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, topping the consensus estimate of $2.53 by $0.10. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.81 billion. Trane Technologies had a return on equity of 35.55% and a net margin of 13.41%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $2.45 EPS. Research analysts predict that Trane Technologies will post 14.88 earnings per share for the current year.

Insider Activity at Trane Technologies

In related news, CAO Elizabeth A. Elwell sold 635 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.70, for a total value of $268,414.50. Following the transaction, the chief accounting officer directly owned 7,100 shares of the company’s stock, valued at approximately $3,001,170. This trade represents a 8.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David S. Regnery sold 36,045 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $422.69, for a total transaction of $15,235,861.05. Following the completion of the transaction, the chief executive officer directly owned 96,948 shares in the company, valued at $40,978,950.12. This represents a 27.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 53,654 shares of company stock valued at $23,269,523. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TT. Brighton Jones LLC lifted its stake in Trane Technologies by 60.0% in the 4th quarter. Brighton Jones LLC now owns 6,194 shares of the company’s stock worth $2,288,000 after purchasing an additional 2,323 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Trane Technologies by 22.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,665 shares of the company’s stock worth $728,000 after purchasing an additional 305 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Trane Technologies in the 2nd quarter worth approximately $227,000. Nebula Research & Development LLC lifted its stake in Trane Technologies by 178.0% in the 2nd quarter. Nebula Research & Development LLC now owns 2,371 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Trane Technologies by 0.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 104,140 shares of the company’s stock worth $45,552,000 after purchasing an additional 497 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.