HighTower Advisors LLC purchased a new stake in shares of Trane (NYSE:TT) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,359 shares of the company’s stock, valued at approximately $1,763,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in shares of Trane during the 1st quarter valued at about $53,000. APG Asset Management N.V. bought a new position in shares of Trane during the 1st quarter valued at approximately $77,968,000. Voloridge Investment Management LLC bought a new position in shares of Trane during the 1st quarter valued at approximately $9,838,000. Waddell & Reed Financial Inc. bought a new position in shares of Trane during the 1st quarter valued at approximately $39,056,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Trane during the 1st quarter valued at approximately $2,574,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Keith A. Sultana sold 1,314 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $101.35, for a total transaction of $133,173.90. Following the sale, the senior vice president now directly owns 22,317 shares of the company’s stock, valued at approximately $2,261,827.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on TT shares. Robert W. Baird cut their price objective on Trane from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. KeyCorp cut their price objective on Trane from $145.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Cowen downgraded Trane from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $107.00 to $85.00 in a research note on Thursday, May 14th. JPMorgan Chase & Co. downgraded Trane from an “overweight” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Wednesday, March 18th. Finally, Citigroup dropped their price target on Trane from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $95.07.

Shares of TT opened at $89.19 on Tuesday. The stock has a market cap of $20.25 billion, a PE ratio of 18.43 and a beta of 1.36. Trane has a 1 year low of $70.00 and a 1 year high of $146.85. The business’s 50 day moving average price is $87.88. The company has a quick ratio of 1.20, a current ratio of 1.55 and a debt-to-equity ratio of 0.80.

Trane (NYSE:TT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Trane had a return on equity of 20.96% and a net margin of 7.54%. As a group, analysts expect that Trane will post 3.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, September 3rd. This represents a $2.12 annualized dividend and a dividend yield of 2.38%. Trane’s dividend payout ratio (DPR) is 33.28%.

Trane Company Profile

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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Institutional Ownership by Quarter for Trane (NYSE:TT)

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