Benjamin F. Edwards & Company Inc. Makes New Investment in Trane (NYSE:TT)
Benjamin F. Edwards & Company Inc. acquired a new position in shares of Trane (NYSE:TT) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,386 shares of the company’s stock, valued at approximately $610,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TT. BlackRock Inc. purchased a new position in shares of Trane in the 1st quarter valued at $1,420,425,000. Bank of New York Mellon Corp purchased a new position in shares of Trane in the 1st quarter valued at $392,528,000. Victory Capital Management Inc. purchased a new position in shares of Trane in the 1st quarter valued at $117,860,000. New York State Common Retirement Fund purchased a new position in shares of Trane in the 1st quarter valued at $51,069,000. Finally, UBS Group AG acquired a new stake in shares of Trane in the 1st quarter worth $48,191,000. Institutional investors own 81.89% of the company’s stock.
TT opened at $77.21 on Friday. Trane has a one year low of $70.00 and a one year high of $146.85. The firm has a market capitalization of $20.19 billion, a PE ratio of 15.95 and a beta of 1.37. The firm has a 50 day simple moving average of $85.18. The company has a quick ratio of 1.20, a current ratio of 1.55 and a debt-to-equity ratio of 0.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, June 4th. Trane’s dividend payout ratio is presently 33.28%.
TT has been the subject of a number of recent analyst reports. Credit Suisse Group lowered their price objective on Trane from $105.00 to $91.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Citigroup lowered their price objective on Trane from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Cleveland Research initiated coverage on Trane in a research report on Friday, April 24th. They issued a “neutral” rating for the company. Royal Bank of Canada reissued a “hold” rating and issued a $77.00 price objective on shares of Trane in a research report on Thursday, April 16th. Finally, Wolfe Research cut 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. Two equities 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 stock has a consensus rating of “Hold” and an average price target of $91.62.
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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