AGF Investments Inc. Makes New Investment in Trane (NYSE:TT)

AGF Investments Inc. bought a new position in shares of Trane (NYSE:TT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,951 shares of the company’s stock, valued at approximately $2,804,000.

Other large investors also recently added to or reduced their stakes in the company. FineMark National Bank & Trust purchased a new stake in Trane during the 1st quarter worth approximately $6,526,000. Hotaling Investment Management LLC acquired a new stake in Trane during the 1st quarter valued at approximately $2,088,000. CAPROCK Group Inc. acquired a new stake in Trane during the 1st quarter valued at approximately $214,000. Public Employees Retirement Association of Colorado acquired a new stake in Trane during the 1st quarter valued at approximately $3,707,000. Finally, Retirement Systems of Alabama acquired a new stake in Trane during the 1st quarter valued at approximately $8,699,000. 79.00% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on TT. Royal Bank of Canada reiterated a “hold” rating and issued a $77.00 target price on shares of Trane in a research note on Thursday, April 16th. Goldman Sachs Group began coverage on shares of Trane in a research note on Thursday, April 2nd. They issued a “buy” rating and a $100.00 target price for the company. Robert W. Baird decreased their target price on shares of Trane from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley decreased their target price on shares of Trane from $95.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Cowen cut shares of Trane from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $107.00 to $85.00 in a research note on Thursday, May 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $91.62.

NYSE:TT opened at $83.36 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.55 and a quick ratio of 1.20. The business’s fifty day moving average is $84.66. The firm has a market capitalization of $19.46 billion, a PE ratio of 17.22 and a beta of 1.37. Trane has a fifty-two week low of $70.00 and a fifty-two week high of $146.85.

Trane (NYSE:TT) last posted its quarterly earnings data 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. Equities research analysts predict that Trane will post 3.17 earnings per share for the current year.

The firm also recently announced 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 payout ratio 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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