Trane Technologies plc (TT) To Go Ex-Dividend on June 7th

Trane Technologies plc (NYSE:TTGet Free Report) announced a quarterly dividend on Thursday, April 4th, Zacks reports. Stockholders of record on Friday, June 7th will be paid a dividend of 0.84 per share on Friday, June 28th. This represents a $3.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th.

Trane Technologies has increased its dividend by an average of 12.3% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Trane Technologies has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Trane Technologies to earn $11.59 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 29.0%.

Trane Technologies Stock Down 0.6 %

Trane Technologies stock opened at $319.43 on Wednesday. Trane Technologies has a 1-year low of $171.63 and a 1-year high of $338.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.13 and a quick ratio of 0.74. The stock has a market cap of $72.30 billion, a PE ratio of 34.13, a P/E/G ratio of 2.56 and a beta of 1.01. The stock’s fifty day moving average is $313.02 and its two-hundred day moving average is $277.49.

Trane Technologies (NYSE:TTGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. Trane Technologies had a return on equity of 32.78% and a net margin of 11.81%. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $1.41 earnings per share. Trane Technologies’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts expect that Trane Technologies will post 10.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TT. TD Cowen lifted their target price on Trane Technologies from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Trane Technologies from $247.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company lifted their target price on Trane Technologies from $281.00 to $295.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on Trane Technologies from $287.00 to $326.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup lifted their target price on Trane Technologies from $355.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $309.79.

View Our Latest Stock Report on Trane Technologies

Trane Technologies Company Profile

(Get Free Report)

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

Further Reading

Dividend History for Trane Technologies (NYSE:TT)

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