M&T Bank Corp lessened its position in Trane (NYSE:TT) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,946 shares of the company’s stock after selling 8,765 shares during the period. M&T Bank Corp’s holdings in Trane were worth $9,337,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in shares of Trane during the first quarter valued at $8,397,000. Gradient Investments LLC purchased a new position in shares of Trane during the first quarter valued at approximately $33,000. Private Trust Co. NA bought a new position in Trane during the first quarter valued at approximately $502,000. First American Bank purchased a new stake in Trane in the first quarter worth approximately $2,126,000. Finally, West Oak Capital LLC bought a new stake in Trane in the 1st quarter worth approximately $328,000. Hedge funds and other institutional investors own 79.59% of the company’s stock.
Several analysts recently commented on TT shares. TheStreet raised Trane from a “c+” rating to a “b-” rating in a report on Monday, July 27th. Wolfe Research lowered shares of Trane from a “market perform” rating to an “underperform” rating and set a $90.00 price target for the company. in a research report on Wednesday, April 15th. Barclays raised their price objective on shares of Trane from $102.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group assumed coverage on shares of Trane in a research report on Monday, June 22nd. They set a “neutral” rating and a $95.00 target price for the company. Finally, Deutsche Bank increased their price target on shares of Trane from $100.00 to $111.00 and gave the stock a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $102.79.
NYSE TT opened at $111.87 on Friday. The stock has a 50-day simple moving average of $94.48. The company 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 twelve month low of $70.00 and a twelve month high of $146.85. 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 (NYSE:TT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.50. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.77 billion. Trane had a return on equity of 18.82% and a net margin of 6.76%. Trane’s revenue was down 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Trane will post 3.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $2.12 annualized dividend and a yield of 1.90%. Trane’s payout ratio is 33.28%.
In other Trane news, SVP Keith A. Sultana sold 1,314 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 22,317 shares in the company, valued at approximately $2,261,827.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.
Trane Company 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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