Trane Technologies said on April 6, 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 June 1, 2023 to qualify for the dividend.
Shareholders of record as of June 2, 2023
will receive the payment on June 30, 2023.
At the current share price of $170.68 / share,
the stock’s dividend yield is 1.76%.
Looking back five years and taking a sample every week, the average dividend yield has been
1.77%,
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
0.03 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.39.
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 1812 funds or institutions reporting positions in Trane Technologies.
This is an increase
of
103
owner(s) or 6.03% in the last quarter.
Average portfolio weight of all funds dedicated to TT is 0.31%,
a decrease
of 5.75%.
Total shares owned by institutions decreased
in the last three months by 1.11% to 226,297K shares.
The put/call ratio of TT is 0.68, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 16.01% Upside
As of April 6, 2023,
the average one-year price target for Trane Technologies is $198.00.
The forecasts range from a low of $161.60 to a high of $235.20.
The average price target represents an increase of 16.01% from its latest reported closing price of $170.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Trane Technologies
is $16,915MM, an increase of 5.77%.
The projected annual non-GAAP EPS
is $8.11.
What are Other Shareholders Doing?
RVRB – Reverb ETF
holds 0K shares
representing 0.00% ownership of the company.
QAACX – Federated MDT All Cap Core Fund Shares
holds 14K shares
representing 0.01% ownership of the company.
In it’s prior filing, the firm reported owning 14K shares, representing
a decrease
of 5.72%.
The firm
decreased
its portfolio allocation in TT by 5.49% over the last quarter.
PCGRX – Pioneer Mid Cap Value Fund :
holds 65K shares
representing 0.03% ownership of the company.
No change in the last quarter.
BlackRock ETF Trust – BlackRock U.S. Carbon Transition Readiness ETF
holds 35K shares
representing 0.02% ownership of the company.
In it’s prior filing, the firm reported owning 35K shares, representing
an increase
of 0.08%.
The firm
increased
its portfolio allocation in TT by 6.74% over the last quarter.
First City Capital Management
holds 1K shares
representing 0.00% ownership of the company.
In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.
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.
