Comerica Bank lessened its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,443 shares of the industrial products company’s stock after selling 11,801 shares during the quarter. Comerica Bank’s holdings in Ingersoll-Rand were worth $6,111,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in IR. Advisory Services Network LLC raised its position in Ingersoll-Rand by 19.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 213 shares in the last quarter. Resources Investment Advisors Inc. raised its position in shares of Ingersoll-Rand by 218.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 929 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Ingersoll-Rand in the 3rd quarter worth $152,000. Bessemer Group Inc. raised its position in shares of Ingersoll-Rand by 185.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Ingersoll-Rand in the 3rd quarter worth $178,000. Hedge funds and other institutional investors own 81.71% of the company’s stock.
Several brokerages recently weighed in on IR. Stifel Nicolaus dropped their target price on Ingersoll-Rand from $103.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Royal Bank of Canada lowered their target price on Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 26th. Morgan Stanley downgraded Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 target price on the stock. in a research note on Friday, October 27th. Robert W. Baird restated a “hold” rating on shares of Ingersoll-Rand in a research note on Friday, November 17th. Finally, KeyCorp restated a “hold” rating on shares of Ingersoll-Rand in a research note on Sunday, November 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Ingersoll-Rand currently has an average rating of “Hold” and a consensus price target of $103.08.
In related news, Director Jared L. Cohon sold 2,350 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total transaction of $217,140.00. Following the sale, the director now owns 25,766 shares in the company, valued at $2,380,778.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael W. Lamach sold 210,508 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The disclosure for this sale can be found here. 0.63% of the stock is owned by corporate insiders.
Shares of Ingersoll-Rand PLC (IR) traded down $0.98 during trading on Friday, reaching $91.03. The company had a trading volume of 1,961,238 shares, compared to its average volume of 2,156,573. Ingersoll-Rand PLC has a 52 week low of $77.26 and a 52 week high of $97.67. The stock has a market capitalization of $22,747.40, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.41.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. equities research analysts predict that Ingersoll-Rand PLC will post 5.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.80 annualized dividend and a yield of 1.98%. Ingersoll-Rand’s dividend payout ratio (DPR) is 35.50%.
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Ingersoll-Rand Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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