Russell Investments Group Ltd. lowered its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,471 shares of the industrial products company’s stock after selling 30,883 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Ingersoll-Rand worth $31,365,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in IR. QCI Asset Management Inc. NY bought a new stake in Ingersoll-Rand in the 2nd quarter valued at $26,000. Arrow Financial Corp grew its holdings in Ingersoll-Rand by 232.6% in 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 in the last quarter. AdvisorNet Financial Inc grew its holdings in Ingersoll-Rand by 92.2% in 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 in the last quarter. Berman Capital Advisors LLC grew its holdings in Ingersoll-Rand by 93.9% in 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 in the last quarter. Finally, Halbert Hargrove Russell LLC grew its holdings in Ingersoll-Rand by 1,902.2% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 7,368 shares of the industrial products company’s stock valued at $46,000 after buying an additional 7,000 shares in the last quarter. 78.14% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on IR shares. Morgan Stanley upped their price objective on Ingersoll-Rand from $139.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Ingersoll-Rand in a report on Friday, October 4th. Credit Suisse Group upped their price objective on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Deutsche Bank lowered Ingersoll-Rand from a “buy” rating to a “hold” rating and decreased their price objective for the company from $137.00 to $135.00 in a report on Tuesday, October 29th. They noted that the move was a valuation call. Finally, Cowen reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Ingersoll-Rand in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $134.15.
IR opened at $129.10 on Friday. The firm has a market cap of $31.33 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.22. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $132.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28. The business’s fifty day moving average is $121.28 and its 200-day moving average is $121.58.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.08. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. Ingersoll-Rand’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.75 EPS. On average, research analysts predict that Ingersoll-Rand PLC will post 6.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.64%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
In related news, SVP Marcia J. Avedon sold 7,450 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $129.00, for a total value of $961,050.00. Following the sale, the senior vice president now directly owns 99,075 shares of the company’s stock, valued at $12,780,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keith A. Sultana sold 7,010 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $876,250.00. Following the completion of the sale, the senior vice president now directly owns 19,608 shares in the company, valued at $2,451,000. The disclosure for this sale can be found here. Company 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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