Duality Advisers LP Invests $1.72 Million in Trane (NYSE:TT)

Duality Advisers LP bought a new stake in Trane (NYSE:TT) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 19,336 shares of the company’s stock, valued at approximately $1,721,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fenimore Asset Management Inc. raised its holdings in Trane by 5.0% in the 2nd quarter. Fenimore Asset Management Inc. now owns 559,858 shares of the company’s stock worth $49,816,000 after purchasing an additional 26,888 shares during the period. CIBC Asset Management Inc raised its stake in shares of Trane by 2.8% during the 2nd quarter. CIBC Asset Management Inc now owns 20,538 shares of the company’s stock worth $1,827,000 after buying an additional 554 shares during the period. Vident Investment Advisory LLC lifted its position in shares of Trane by 69.0% during the 2nd quarter. Vident Investment Advisory LLC now owns 8,256 shares of the company’s stock valued at $735,000 after buying an additional 3,372 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Trane in the 2nd quarter valued at $15,409,000. Finally, Fulcrum Capital LLC increased its holdings in Trane by 32.5% in the 2nd quarter. Fulcrum Capital LLC now owns 5,410 shares of the company’s stock worth $481,000 after acquiring an additional 1,328 shares in the last quarter. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

In other Trane news, SVP Keith A. Sultana sold 1,314 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $101.35, for a total value of $133,173.90. Following the transaction, the senior vice president now owns 22,317 shares of the company’s stock, valued at $2,261,827.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.92% of the company’s stock.

Trane stock opened at $111.87 on Friday. The company has a 50 day moving average price of $94.48. The stock has a market cap of $26.78 billion, a PE ratio of 28.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.66. Trane has a 1-year low of $70.00 and a 1-year high of $146.85.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, September 3rd. Trane’s dividend payout ratio (DPR) is presently 33.28%.

A number of brokerages recently weighed in on TT. Barclays raised their price target on shares of Trane from $102.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada increased their price objective on Trane from $81.00 to $97.00 and gave the company a “sector perform” rating in a research note on Thursday. Cowen lowered Trane from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $107.00 to $85.00 in a report on Thursday, May 14th. Bank of America raised shares of Trane from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, May 26th. Finally, Citigroup raised their price target on shares of Trane from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus 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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