Holderness Investments Co. lessened its holdings in Ingersoll-Rand PLC (NYSE:IR) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,285 shares of the industrial products company’s stock after selling 600 shares during the quarter. Holderness Investments Co.’s holdings in Ingersoll-Rand were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in IR. Arrow Financial Corp lifted its position in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after buying an additional 141 shares during the last quarter. Berman Capital Advisors LLC lifted its position in shares of Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after buying an additional 153 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Ingersoll-Rand during the 1st quarter valued at $38,000. Finally, Ibex Wealth Advisors purchased a new position in shares of Ingersoll-Rand during the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.
A number of research analysts have recently commented on the company. BMO Capital Markets upped their price target on Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Zacks Investment Research cut Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Credit Suisse Group upped their price target on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a research report on Wednesday, May 1st. Finally, KeyCorp upped their price target on Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $128.70.
IR traded up $1.42 during trading on Friday, reaching $117.88. 1,242,100 shares of the company were exchanged, compared to its average volume of 1,360,559. The company’s 50-day moving average is $123.26 and its two-hundred day moving average is $115.93. The company has a market cap of $28.09 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.63 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Ingersoll-Rand PLC has a 12-month low of $85.15 and a 12-month high of $128.31.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 EPS. Equities analysts forecast that Ingersoll-Rand PLC will post 6.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.53 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.12 dividend on an annualized basis and a yield of 1.80%. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
In other Ingersoll-Rand news, Director Jared L. Cohon sold 938 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the transaction, the director now directly owns 23,697 shares in the company, valued at approximately $2,821,601.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now owns 15,549 shares in the company, valued at $1,990,272. The disclosure for this sale can be found here. Insiders sold a total of 151,441 shares of company stock worth $18,935,873 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.
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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