Trane Technologies said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of March 2, 2023 will receive the payment on March 31, 2023. Previously, the company paid $0.67 per share.
At the current share price of $181.56 / share, the stock's dividend yield is 1.65%. Looking back five years and taking a sample every week, the average dividend yield has been 1.78%, the lowest has been 1.17%, and the highest has been 2.98%. The standard deviation of yields is 0.36 (n=235).
The current dividend yield is 0.36 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.35. 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 0.26%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 5.65% Upside
As of February 10, 2023, the average one-year price target for Trane Technologies is $191.82. The forecasts range from a low of $127.26 to a high of $228.90. The average price target represents an increase of 5.65% from its latest reported closing price of $181.56.
The projected annual revenue for Trane Technologies is $16,915MM, an increase of 5.77%. The projected annual EPS is $8.11, an increase of 6.29%.
What is the Fund Sentiment?
There are 1732 funds or institutions reporting positions in Trane Technologies. This is an increase of 9 owner(s) or 0.52% in the last quarter. Average portfolio weight of all funds dedicated to TT is 0.34%, an increase of 19.29%. Total shares owned by institutions increased in the last three months by 1.04% to 228,957K shares. The put/call ratio of TT is 0.33, indicating a bullish outlook.
What are large shareholders doing?
Jpmorgan Chase & holds 19,051K shares representing 8.27% ownership of the company. In it's prior filing, the firm reported owning 20,164K shares, representing a decrease of 5.84%. The firm increased its portfolio allocation in TT by 8.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,907K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 6,889K shares, representing an increase of 0.26%. The firm increased its portfolio allocation in TT by 16.54% over the last quarter.
Ameriprise Financial holds 6,904K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 7,228K shares, representing a decrease of 4.69%. The firm decreased its portfolio allocation in TT by 79.29% over the last quarter.
Generation Investment Management Llp holds 5,739K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 5,256K shares, representing an increase of 8.41%. The firm increased its portfolio allocation in TT by 32.51% over the last quarter.
Wellington Management Group Llp holds 5,402K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 5,735K shares, representing a decrease of 6.16%. The firm increased its portfolio allocation in TT by 11.09% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
