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

Trane Technologies plc (NYSE:TT) declared a quarterly dividend on Wednesday, April 1st. Investors of record on Friday, June 5th will be given a dividend of 1.05 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, June 5th.

Trane Technologies has decreased its dividend by an average of 0.3%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 29.0% meaning its dividend is sufficiently covered by earnings. Research 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

NYSE TT opened at $459.21 on Wednesday. The company has a market capitalization of $101.51 billion, a PE ratio of 35.52, a price-to-earnings-growth 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. The business’s fifty day moving average is $455.94 and its 200 day moving average is $430.21. 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 released its earnings results on Friday, May 1st. The company reported $2.63 earnings per share for the quarter, beating 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%.Trane Technologies’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 earnings per share. Sell-side analysts predict that Trane Technologies will post 14.88 earnings per share for the current year.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 8,619 shares of Trane Technologies stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $450.00, for a total value of $3,878,550.00. Following the sale, the chief financial officer directly owned 60,576 shares of the company’s stock, valued at approximately $27,259,200. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald E. Simmons sold 4,593 shares of Trane Technologies stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $500.00, for a total value of $2,296,500.00. Following the completion of the sale, the insider directly owned 3,819 shares in the company, valued at $1,909,500. This trade represents a 54.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 53,654 shares of company stock valued at $23,269,523. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trane Technologies

Large investors have recently made changes to their positions in the company. Tucker Asset Management LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth about $25,000. Wilkerson Advisory Group LLC increased its holdings in shares of Trane Technologies by 136.0% in the first quarter. Wilkerson Advisory Group LLC now owns 59 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. United Community Bank increased its holdings in shares of Trane Technologies by 134.4% in the third quarter. United Community Bank now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 43 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Trane Technologies in the fourth quarter worth about $32,000. Finally, JPL Wealth Management LLC bought a new stake in Trane Technologies during the third quarter worth approximately $32,000. 82.97% of the stock is owned by 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.