Trane Technologies plc - (TT) Declares $0.75 Dividend
Trane Technologies plc - said on June 2, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Previously, the company paid $0.75 per share.
Shares must be purchased before the ex-div date of August 31, 2023 to qualify for the dividend. Shareholders of record as of September 1, 2023 will receive the payment on September 29, 2023.
At the current share price of $173.01 / share, the stock's dividend yield is 1.73%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.76%, the lowest has been 1.17%, and the highest has been 2.98%. The standard deviation of yields is 0.35 (n=235).
The current dividend yield is 0.07 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.42%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1889 funds or institutions reporting positions in Trane Technologies plc -. This is an increase of 91 owner(s) or 5.06% in the last quarter. Average portfolio weight of all funds dedicated to TT is 0.34%, an increase of 0.77%. Total shares owned by institutions decreased in the last three months by 1.18% to 223,234K shares. 
The put/call ratio of TT is 0.68, indicating a bullish outlook.
Analyst Price Forecast Suggests 13.31% Upside
As of June 1, 2023, the average one-year price target for Trane Technologies plc - is 196.03. The forecasts range from a low of 161.60 to a high of $235.20. The average price target represents an increase of 13.31% from its latest reported closing price of 173.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Trane Technologies plc - is 16,915MM, an increase of 3.76%. The projected annual non-GAAP EPS is 8.11.
What are Other Shareholders Doing?
Jpmorgan Chase holds 17,953K shares representing 7.87% ownership of the company. In it's prior filing, the firm reported owning 18,392K shares, representing a decrease of 2.44%. The firm decreased its portfolio allocation in TT by 1.27% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,094K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 7,001K shares, representing an increase of 1.32%. The firm increased its portfolio allocation in TT by 2.41% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,345K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 5,324K shares, representing an increase of 0.39%. The firm increased its portfolio allocation in TT by 1.90% over the last quarter.
Ameriprise Financial holds 5,073K shares representing 2.22% ownership of the company. In it's prior filing, the firm reported owning 6,217K shares, representing a decrease of 22.55%. The firm decreased its portfolio allocation in TT by 84.24% over the last quarter.
Geode Capital Management holds 4,766K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 4,685K shares, representing an increase of 1.69%. The firm increased its portfolio allocation in TT by 2.98% over the last quarter.
Trane Technologies Background Information
(This description is provided by the company.)
Trane Technologies is a global climate innovator. Through its strategic brands Trane and Thermo King, and its portfolio of environmentally responsible products and services, company brings efficient and sustainable climate solutions to buildings, homes and transportation.
Key filings for this company:
This story originally appeared on Fintel.