Victory Capital Management Inc. cut its position in Ingersoll-Rand PLC (NYSE:IR) by 25.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,780,452 shares of the industrial products company’s stock after selling 614,062 shares during the period. Victory Capital Management Inc. owned 0.72% of Ingersoll-Rand worth $162,431,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bank OZK lifted its position in shares of Ingersoll-Rand by 2.8% during the fourth quarter. Bank OZK now owns 5,041 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 135 shares in the last quarter. Sigma Planning Corp increased its position in Ingersoll-Rand by 2.0% during the fourth quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 136 shares during the period. Legacy Financial Advisors Inc. increased 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 worth $28,000 after acquiring an additional 137 shares during the period. Horan Capital Advisors LLC. increased its position in Ingersoll-Rand by 0.5% during the fourth quarter. Horan Capital Advisors LLC. now owns 28,004 shares of the industrial products company’s stock worth $2,555,000 after acquiring an additional 152 shares during the period. Finally, Howe & Rusling Inc. increased its position in Ingersoll-Rand by 17.1% during the fourth quarter. Howe & Rusling Inc. now owns 1,093 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 80.59% of the company’s stock.
In other news, insider Marcia J. Avedon sold 1,128 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $100.92, for a total transaction of $113,837.76. Following the completion of the transaction, the insider now directly owns 112,064 shares in the company, valued at $11,309,498.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were 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 of the company’s stock, valued at $37,717,487.25. The disclosure for this sale can be found here. Insiders have sold 180,522 shares of company stock valued at $16,448,162 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand stock traded up $1.71 on Tuesday, hitting $104.22. 385,665 shares of the stock traded hands, compared to its average volume of 1,746,271. The company has a current ratio of 1.33, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $25.04 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.60 and a beta of 1.26. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $107.08.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.29 by $0.03. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Analysts predict that Ingersoll-Rand PLC will post 6.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.12 annualized dividend and a dividend yield of 2.03%. Ingersoll-Rand’s payout ratio is presently 37.79%.
A number of research firms recently commented on IR. Zacks Investment Research lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $115.00 price objective (up previously from $108.00) on shares of Ingersoll-Rand in a research note on Thursday, January 31st. Robert W. Baird set a $106.00 price target on shares of Ingersoll-Rand and gave the company a “hold” rating in a research note on Thursday, October 25th. Stephens assumed coverage on shares of Ingersoll-Rand in a research note on Monday, November 19th. They issued an “overweight” rating and a $118.00 target price for the company. Finally, ValuEngine raised shares of 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. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $109.77.
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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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