Whittier Trust Co. raised its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,770 shares of the industrial products company’s stock after purchasing an additional 154 shares during the period. Whittier Trust Co.’s holdings in Ingersoll-Rand were worth $604,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in IR. Bellecapital International Ltd. boosted its stake in shares of Ingersoll-Rand by 5.2% during the second quarter. Bellecapital International Ltd. now owns 2,415 shares of the industrial products company’s stock worth $306,000 after buying an additional 120 shares during the period. AE Wealth Management LLC acquired a new position in shares of Ingersoll-Rand in the 2nd quarter valued at $1,591,000. First American Bank boosted its holdings in shares of Ingersoll-Rand by 14.1% in the 2nd quarter. First American Bank now owns 23,758 shares of the industrial products company’s stock valued at $3,009,000 after purchasing an additional 2,936 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Ingersoll-Rand by 5.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,580 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 200 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of Ingersoll-Rand during the 2nd quarter valued at $226,000. 78.35% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on IR. Credit Suisse Group lifted their target price on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Deutsche Bank upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 target price on the stock in a report on Wednesday, May 1st. Zacks Investment Research lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Wells Fargo & Co lifted their target price on shares of Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley lifted their target price on shares of Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $128.70.
In other news, CEO Michael W. Lamach sold 146,733 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Evan M. Turtz sold 3,770 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the completion of the sale, the insider now directly owns 15,549 shares of the company’s stock, valued at approximately $1,990,272. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
Ingersoll-Rand stock traded down $1.70 during midday trading on Monday, hitting $119.18. 18,262 shares of the stock were exchanged, compared to its average volume of 1,375,962. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $128.31. The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 1.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.14 and a current ratio of 1.23. The company has a 50 day simple moving average of $124.82.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.
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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