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

Trane Technologies plc (NYSE:TT) announced a quarterly dividend on Friday, June 5th. Investors of record on Friday, September 4th will be paid a dividend of 1.05 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th.

Trane Technologies has decreased its dividend by an average of 0.3%per year 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% indicating that 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 Stock Performance

Shares of NYSE TT traded down $7.25 during mid-day trading on Friday, hitting $456.51. The company had a trading volume of 1,208,776 shares, compared to its average volume of 1,507,770. The stock has a market cap of $100.91 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.15 and a beta of 1.20. Trane Technologies has a 12 month low of $348.06 and a 12 month high of $503.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $458.41 and its two-hundred day simple moving average is $431.16.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Friday, May 1st. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.10. The business 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 business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.45 EPS. As a group, equities research analysts forecast that Trane Technologies will post 14.88 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.