Carnegie Capital Asset Management LLC Takes $403,000 Position in Trane (NYSE:TT)

Carnegie Capital Asset Management LLC purchased a new position in Trane (NYSE:TT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,884 shares of the company’s stock, valued at approximately $403,000.

A number of other institutional investors have also recently modified their holdings of TT. Global Retirement Partners LLC purchased a new position in Trane in the first quarter worth approximately $25,000. Woodley Farra Manion Portfolio Management Inc. acquired a new position in shares of Trane in the 1st quarter valued at $25,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Trane in the 1st quarter valued at $25,000. Parkside Financial Bank & Trust acquired a new position in shares of Trane in the 1st quarter valued at $29,000. Finally, Gradient Investments LLC acquired a new position in shares of Trane in the 1st quarter valued at $33,000. Institutional investors own 79.00% of the company’s stock.

NYSE:TT opened at $83.36 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 1.55. Trane has a fifty-two week low of $70.00 and a fifty-two week high of $146.85. The firm has a market cap of $19.46 billion, a PE ratio of 13.77 and a beta of 1.37. The stock’s fifty day moving average is $84.66.

Trane (NYSE:TT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.07). Trane had a return on equity of 20.96% and a net margin of 7.54%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, analysts forecast that Trane will post 3.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $0.53 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.12 annualized dividend and a dividend yield of 2.54%. Trane’s dividend payout ratio is presently 33.28%.

A number of equities analysts have recently commented on TT shares. KeyCorp cut their target price on shares of Trane from $145.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Morgan Stanley cut their target price on shares of Trane from $95.00 to $91.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Citigroup cut their target price on shares of Trane from $97.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Vertical Research cut shares of Trane to a “hold” rating in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. cut shares of Trane from an “overweight” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $91.62.

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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