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

Carnegie Capital Asset Management LLC bought a new stake in shares of Trane (NYSE:TT) in the 1st quarter, HoldingsChannel.com reports. The firm bought 4,884 shares of the company’s stock, valued at approximately $403,000.

Several other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Trane during the first quarter worth $25,000. Woodley Farra Manion Portfolio Management Inc. bought a new position in Trane during the first quarter worth $25,000. Oppenheimer Asset Management Inc. bought a new position in Trane during the first quarter worth $25,000. Parkside Financial Bank & Trust bought a new position in Trane during the first quarter worth $29,000. Finally, Gradient Investments LLC bought a new position in Trane during the first quarter worth $33,000. Institutional investors own 79.00% of the company’s stock.

TT has been the topic of several research analyst reports. Credit Suisse Group reduced their price objective on Trane from $105.00 to $91.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Wolfe Research cut Trane from a “market perform” rating to an “underperform” rating and set a $90.00 price objective on the stock. in a research note on Wednesday, April 15th. Bank of America cut Trane from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research note on Wednesday, April 1st. Deutsche Bank cut their target price on Trane from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, Zacks Investment Research cut Trane from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Trane currently has a consensus rating of “Hold” and a consensus target price of $91.62.

Shares of TT opened at $83.36 on Friday. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 13.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.55 and a quick ratio of 1.20. Trane has a one year low of $70.00 and a one year high of $146.85. The company’s fifty day simple moving average is $84.66.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, June 4th. Trane’s dividend payout ratio (DPR) is 33.28%.

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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