Picton Mahoney Asset Management purchased a new stake in shares of Ingersoll-Rand PLC (NYSE:IR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 124,800 shares of the industrial products company’s stock, valued at approximately $11,385,000. Picton Mahoney Asset Management owned 0.05% of Ingersoll-Rand at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in IR. Parallel Advisors LLC grew its stake in shares of Ingersoll-Rand by 23.5% in the 4th quarter. Parallel Advisors LLC now owns 2,231 shares of the industrial products company’s stock worth $203,000 after buying an additional 424 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Ingersoll-Rand by 5.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,487 shares of the industrial products company’s stock worth $1,413,000 after buying an additional 796 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Ingersoll-Rand by 1.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 20,013 shares of the industrial products company’s stock worth $1,826,000 after buying an additional 313 shares during the last quarter. Montecito Bank & Trust purchased a new stake in shares of Ingersoll-Rand in the 4th quarter worth approximately $426,000. Finally, ClariVest Asset Management LLC grew its stake in shares of Ingersoll-Rand by 10.1% in the 4th quarter. ClariVest Asset Management LLC now owns 277,268 shares of the industrial products company’s stock worth $25,296,000 after buying an additional 25,344 shares during the last quarter. Institutional investors own 80.59% of the company’s stock.
Several research firms recently weighed in on IR. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Credit Suisse Group restated an “outperform” rating and issued a $115.00 price target (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 Ingersoll-Rand and gave the stock a “hold” rating in a research note on Thursday, October 25th. Stephens began coverage on Ingersoll-Rand in a research note on Monday, November 19th. They issued an “overweight” rating and a $118.00 price target on the stock. Finally, ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Ingersoll-Rand presently has an average rating of “Buy” and an average price target of $109.77.
IR stock opened at $102.51 on Tuesday. The company has a market capitalization of $25.04 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.26. Ingersoll-Rand PLC has a 12-month low of $79.63 and a 12-month high of $107.08. 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 (NYSE:IR) last released its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations 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 was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. As a group, analysts forecast that Ingersoll-Rand PLC will post 6.3 EPS for the current year.
The company 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 2.07%. Ingersoll-Rand’s payout ratio is 37.79%.
In other news, insider Marcia J. Avedon sold 6,486 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $99.24, for a total transaction of $643,670.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marcia J. Avedon sold 1,128 shares of the stock in a transaction on Friday, February 8th. The shares were sold at an average price of $100.92, for a total value of $113,837.76. Following the transaction, the insider now directly owns 112,064 shares in the company, valued at $11,309,498.88. The disclosure for this sale can be found here. Insiders have sold a total of 180,522 shares of company stock worth $16,448,162 over the last three months. Insiders own 0.70% of the company’s stock.
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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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