Trane Technologies plc (NYSE:TT) Declares $0.94 Quarterly Dividend

Key Points

• Trane Technologies plc declared a quarterly dividend of $0.94 per share, with the ex-dividend date set for December 5th and payment occurring on December 31st.
• The company has a payout ratio of 26.0%, indicating its dividends are sufficiently covered by earnings, with analysts expecting a future payout ratio of 26.6% based on projected earnings per share.
• Trane Technologies shares are currently rated as "Hold" by most analysts, with a consensus target price of $457.73, while the stock recently traded at $426.90, reflecting a 0.9% increase.

Trane Technologies plc (NYSE:TT - Get Free Report) declared a quarterly dividend on Wednesday, October 8th. Shareholders of record on Friday, December 5th will be given a dividend of 0.94 per share on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th.

Trane Technologies has a payout ratio of 26.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.9%

Trane Technologies stock traded up $3.79 during trading hours on Wednesday, reaching $426.90. 908,910 shares of the company's stock traded hands, compared to its average volume of 1,434,579. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.10. Trane Technologies has a fifty-two week low of $298.15 and a fifty-two week high of $476.18. The firm has a market capitalization of $94.99 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.64 and a beta of 1.12. The firm's 50 day moving average is $419.60 and its 200-day moving average is $407.75.

Trane Technologies (NYSE:TT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.09. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the company posted $3.30 EPS. The company's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. On average, analysts predict that Trane Technologies will post 12.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HSBC downgraded shares of Trane Technologies from a "buy" rating to a "hold" rating and upped their target price for the company from $415.00 to $460.00 in a research report on Thursday, July 31st. Barclays cut their price target on shares of Trane Technologies from $495.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Trane Technologies in a research report on Wednesday. UBS Group raised their target price on shares of Trane Technologies from $500.00 to $544.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Citigroup reduced their price target on shares of Trane Technologies from $499.00 to $494.00 and set a "buy" rating for the company in a report on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $457.73.

Trane Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.