HPM Partners LLC increased its stake in Ingersoll-Rand PLC (NYSE:IR) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,779 shares of the industrial products company’s stock after acquiring an additional 969 shares during the period. HPM Partners LLC’s holdings in Ingersoll-Rand were worth $605,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IR. Baker Avenue Asset Management LP lifted its stake in Ingersoll-Rand by 11.7% in the fourth quarter. Baker Avenue Asset Management LP now owns 11,062 shares of the industrial products company’s stock worth $987,000 after purchasing an additional 1,163 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Ingersoll-Rand by 57.2% in the fourth quarter. Clearbridge Investments LLC now owns 643,093 shares of the industrial products company’s stock worth $57,357,000 after purchasing an additional 234,122 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in Ingersoll-Rand by 4.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 215,143 shares of the industrial products company’s stock worth $19,189,000 after purchasing an additional 9,470 shares during the last quarter. Caxton Associates LP lifted its stake in Ingersoll-Rand by 5,708.6% in the fourth quarter. Caxton Associates LP now owns 377,557 shares of the industrial products company’s stock worth $33,674,000 after purchasing an additional 371,057 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Ingersoll-Rand in the fourth quarter worth about $1,655,000. Institutional investors own 80.76% of the company’s stock.
In other Ingersoll-Rand news, Chairman Michael W. Lamach sold 210,508 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $88.28, for a total value of $18,583,646.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $142,881.70. The disclosure for this sale can be found here. Insiders have sold 280,380 shares of company stock worth $24,889,306 over the last three months. Corporate insiders own 0.63% of the company’s stock.
Ingersoll-Rand PLC (NYSE IR) opened at $88.24 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. Ingersoll-Rand PLC has a 1-year low of $77.26 and a 1-year high of $97.67. The stock has a market cap of $22,010.25, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. Ingersoll-Rand’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts anticipate that Ingersoll-Rand PLC will post 5.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 35.50%.
Several research firms have recently weighed in on IR. BMO Capital Markets lifted their price target on shares of Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus lifted their price target 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. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Monday, January 22nd. Barclays began coverage on shares of Ingersoll-Rand in a research note on Thursday, February 15th. They set an “overweight” rating and a $111.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $99.00 price target on shares of Ingersoll-Rand in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $103.69.
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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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