Tredje AP fonden purchased a new stake in shares of Trane (NYSE:TT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,618 shares of the company’s stock, valued at approximately $1,455,000.

A number of other institutional investors have also added to or reduced their stakes in TT. Woodley Farra Manion Portfolio Management Inc. bought a new position in Trane during the 1st quarter worth about $25,000. Solstein Capital LLC bought a new position in Trane during the 1st quarter worth about $25,000. Global Retirement Partners LLC bought a new position in Trane during the 1st quarter worth about $25,000. Oppenheimer Asset Management Inc. bought a new position in Trane during the 1st quarter worth about $25,000. Finally, Glassman Wealth Services bought a new position in Trane during the 1st quarter worth about $27,000. 79.90% of the stock is currently owned by institutional investors.

In related news, SVP Keith A. Sultana sold 1,314 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $101.35, for a total value of $133,173.90. Following the completion of the transaction, 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 is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.

Shares of Trane stock traded down $0.51 during midday trading on Friday, hitting $85.29. The company had a trading volume of 19,537 shares, compared to its average volume of 1,459,947. The stock has a market capitalization of $20.58 billion, a PE ratio of 17.78 and a beta of 1.36. The company has a current ratio of 1.55, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average price of $87.65. Trane has a 12-month low of $70.00 and a 12-month high of $146.85.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 3rd. Trane’s payout ratio is currently 33.28%.

TT has been the topic of several recent research reports. KeyCorp dropped 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. Bank of America upgraded shares of Trane from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, May 26th. UBS Group began coverage on shares of Trane in a report on Monday. They issued a “neutral” rating and a $95.00 price target on the stock. Morgan Stanley raised their price target on shares of Trane from $91.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Finally, Vertical Research cut shares of Trane to a “hold” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Trane has a consensus rating of “Hold” and an average price target of $95.07.

Trane 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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