Cerity Partners LLC boosted its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 20.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,511 shares of the industrial products company’s stock after acquiring an additional 1,806 shares during the period. Cerity Partners LLC’s holdings in Ingersoll-Rand were worth $959,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Ruggie Capital Group purchased a new stake in Ingersoll-Rand during the fourth quarter valued at approximately $28,000. Legacy Financial Advisors Inc. raised its position in Ingersoll-Rand by 78.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the period. First Mercantile Trust Co. raised its position in Ingersoll-Rand by 67.9% during the fourth quarter. First Mercantile Trust Co. now owns 470 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 190 shares during the period. Baystate Wealth Management LLC raised its position in Ingersoll-Rand by 330.6% during the fourth quarter. Baystate Wealth Management LLC now owns 521 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 400 shares during the period. Finally, Massey Quick Simon & CO. LLC raised its position in Ingersoll-Rand by 2,895.7% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 689 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 666 shares during the period. 80.59% of the stock is owned by institutional investors.
IR has been the topic of a number of recent research reports. Barclays decreased their price objective on Ingersoll-Rand from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, January 11th. Citigroup increased their price target on Ingersoll-Rand from $117.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. OTR Global downgraded Ingersoll-Rand to a “positive” rating in a report on Friday, January 18th. Cowen reiterated a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a report on Wednesday, January 23rd. Finally, ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $109.77.
In other Ingersoll-Rand news, VP Christopher J. Kuehn sold 6,501 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $99.85, for a total transaction of $649,124.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Lamach sold 166,407 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $90.39, for a total value of $15,041,528.73. Following the transaction, the chief executive officer now owns 417,275 shares in the company, valued at $37,717,487.25. The disclosure for this sale can be found here. Insiders have sold a total of 198,351 shares of company stock worth $18,287,864 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
Shares of NYSE IR opened at $104.73 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. Ingersoll-Rand PLC has a fifty-two week low of $79.63 and a fifty-two week high of $107.08. The company has a market capitalization of $25.33 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts anticipate that Ingersoll-Rand PLC will post 6.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, March 7th. This represents a $2.12 annualized dividend and a yield of 2.02%. Ingersoll-Rand’s payout ratio is currently 37.79%.
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Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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