Cetera Advisor Networks LLC lessened its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,127 shares of the industrial products company’s stock after selling 574 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Ingersoll-Rand were worth $1,977,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of IR. Calton & Associates Inc. purchased a new position in Ingersoll-Rand during the fourth quarter valued at $112,000. Resources Investment Advisors Inc. raised its position in shares of Ingersoll-Rand by 218.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after buying an additional 929 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Ingersoll-Rand in the first quarter valued at about $118,000. Advisory Services Network LLC raised its position in shares of Ingersoll-Rand by 61.3% in the fourth quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock valued at $160,000 after buying an additional 680 shares during the last quarter. Finally, Thompson Davis & CO. Inc. raised its position in shares of Ingersoll-Rand by 140.7% in the first quarter. Thompson Davis & CO. Inc. now owns 1,793 shares of the industrial products company’s stock valued at $153,000 after buying an additional 1,048 shares during the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.
Several research analysts have recently commented on IR shares. Zacks Investment Research lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Stifel Nicolaus boosted their price objective on shares of Ingersoll-Rand from $94.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Citigroup cut their target price on shares of Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating on the stock in a report on Monday, April 9th. Finally, Royal Bank of Canada restated a “hold” rating and set a $99.00 target price on shares of Ingersoll-Rand in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $103.69.
In other news, SVP Marcia J. Avedon sold 10,460 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $92.00, for a total transaction of $962,320.00. Following the transaction, the senior vice president now directly owns 113,288 shares of the company’s stock, valued at $10,422,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul A. Camuti sold 3,100 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $90.00, for a total value of $279,000.00. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
NYSE:IR traded up $0.76 during trading hours on Thursday, hitting $91.91. The stock had a trading volume of 1,250,900 shares, compared to its average volume of 1,784,172. The company has a market capitalization of $23.07 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. The company has a quick ratio of 0.99, a current ratio of 1.41 and a debt-to-equity ratio of 0.52. Ingersoll-Rand PLC has a 1-year low of $79.63 and a 1-year high of $97.67.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, April 25th. The industrial products company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. Ingersoll-Rand had a return on equity of 17.03% and a net margin of 8.96%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the business posted $0.57 EPS. The business’s revenue was up 12.8% on a year-over-year basis. equities analysts anticipate that Ingersoll-Rand PLC will post 5.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, September 6th. This is a boost from Ingersoll-Rand’s previous quarterly dividend of $0.45. This represents a $2.12 annualized dividend and a yield of 2.31%. Ingersoll-Rand’s dividend payout ratio (DPR) is 39.91%.
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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