AMP Capital Investors Ltd reduced its position in Ingersoll-Rand PLC (NYSE:IR) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,197 shares of the industrial products company’s stock after selling 76,385 shares during the period. AMP Capital Investors Ltd owned about 0.06% of Ingersoll-Rand worth $12,862,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Calton & Associates Inc. purchased a new position in Ingersoll-Rand in the 4th quarter worth approximately $112,000. Resources Investment Advisors Inc. raised its holdings in 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 during the last quarter. Valeo Financial Advisors LLC purchased a new position in Ingersoll-Rand in the 3rd quarter worth approximately $152,000. Advisory Services Network LLC raised its holdings in Ingersoll-Rand by 61.3% in the 4th quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 680 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in 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 during the last quarter. Institutional investors own 80.76% of the company’s stock.
IR has been the subject of a number of research reports. Argus boosted their target price on shares of Ingersoll-Rand to $105.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Stifel Nicolaus boosted their target price on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. UBS Group initiated coverage on shares of Ingersoll-Rand in a research note on Monday, January 22nd. They set a “buy” rating and a $105.00 target price for the company. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Monday, January 22nd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $99.00 target price on shares of Ingersoll-Rand in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Ingersoll-Rand has an average rating of “Hold” and a consensus price target of $103.69.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $0.84 EPS. research analysts anticipate that Ingersoll-Rand PLC will post 5.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio is currently 35.36%.
In related news, insider Paul A. Camuti sold 1,678 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $85.15, for a total value of $142,881.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael W. Lamach sold 210,508 shares of the company’s stock in a transaction on 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. Insiders sold a total of 280,380 shares of company stock valued at $24,889,306 in the last ninety days. 0.63% of the stock is currently owned by insiders.
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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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