Everence Capital Management Inc. lessened its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 7.4% in the 1st quarter, HoldingsChannel reports. The fund owned 7,780 shares of the industrial products company’s stock after selling 622 shares during the period. Everence Capital Management Inc.’s holdings in Ingersoll-Rand were worth $840,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IR. BlackRock Inc. boosted its holdings in shares of Ingersoll-Rand by 5.0% in the 4th quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock valued at $1,716,550,000 after buying an additional 901,225 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Ingersoll-Rand by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock valued at $1,753,427,000 after buying an additional 43,240 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll-Rand by 26.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after buying an additional 1,085,581 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Ingersoll-Rand by 3.9% in the 4th quarter. Bank of America Corp DE now owns 3,980,294 shares of the industrial products company’s stock valued at $363,122,000 after buying an additional 149,485 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Ingersoll-Rand in the 4th quarter valued at $360,951,000. Institutional investors own 81.51% of the company’s stock.
Several research analysts have recently issued reports on IR shares. Credit Suisse Group restated an “outperform” rating and issued a $115.00 target price (up previously from $108.00) on shares of Ingersoll-Rand in a report on Thursday, January 31st. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a report on Monday. BMO Capital Markets upped their target price on shares of Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Co upped their price target on shares of Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank began coverage on shares of Ingersoll-Rand in a research report on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $123.96.
IR stock opened at $120.79 on Wednesday. Ingersoll-Rand PLC has a 12 month low of $85.15 and a 12 month high of $125.26. The firm has a market capitalization of $29.04 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.77 and a beta of 1.32. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Ingersoll-Rand’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Ingersoll-Rand PLC will post 6.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.12 annualized dividend and a yield of 1.76%. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
In other Ingersoll-Rand news, insider Paul A. Camuti sold 7,034 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $104.95, for a total transaction of $738,218.30. Following the completion of the transaction, the insider now owns 51,497 shares in the company, valued at approximately $5,404,610.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Susan K. Carter sold 70,037 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.67, for a total transaction of $7,400,809.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,760 shares of company stock valued at $23,276,480. 0.70% of the stock is owned by insiders.
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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