Duality Advisers LP Makes New $1.72 Million Investment in Trane (NYSE:TT)

Duality Advisers LP purchased a new stake in Trane (NYSE:TT) in the second quarter, Holdings Channel.com reports. The fund purchased 19,336 shares of the company’s stock, valued at approximately $1,721,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TT. Korea Investment CORP purchased a new position in shares of Trane in the first quarter valued at $9,771,000. FineMark National Bank & Trust purchased a new position in Trane during the 1st quarter valued at about $6,526,000. Two Sigma Advisers LP purchased a new position in Trane during the 1st quarter valued at about $3,671,000. Canada Pension Plan Investment Board acquired a new position in Trane during the first quarter worth about $13,428,000. Finally, AXA purchased a new stake in shares of Trane in the first quarter valued at about $10,893,000. Hedge funds and other institutional investors own 79.59% of the company’s stock.

Shares of TT stock opened at $111.87 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 28.18 and a beta of 1.36. Trane has a one year low of $70.00 and a one year high of $146.85. The stock’s 50 day moving average is $94.48.

Trane (NYSE:TT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.50. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Trane had a net margin of 6.76% and a return on equity of 18.82%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Trane will post 3.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 3rd. Trane’s payout ratio is currently 33.28%.

In other news, SVP Keith A. Sultana sold 1,314 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $101.35, for a total value of $133,173.90. Following the transaction, the senior vice president now directly owns 22,317 shares in the company, valued at approximately $2,261,827.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by insiders.

Several research analysts recently issued reports on the company. 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 report on Wednesday, May 6th. Citigroup boosted their price target on Trane from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. TheStreet upgraded Trane from a “c+” rating to a “b-” rating in a research report on Monday, July 27th. Credit Suisse Group lifted their price objective on Trane from $108.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Cleveland Research began coverage on shares of Trane in a report on Friday, April 24th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $102.79.

About Trane

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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