Signature Estate & Investment Advisors LLC grew its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,498 shares of the industrial products company’s stock after acquiring an additional 1,107 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Ingersoll-Rand were worth $4,750,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Ingersoll-Rand by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,435,070 shares of the industrial products company’s stock worth $222,163,000 after purchasing an additional 202,534 shares during the period. Geode Capital Management LLC raised its holdings in shares of Ingersoll-Rand by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 3,277,339 shares of the industrial products company’s stock worth $298,484,000 after purchasing an additional 300,549 shares during the period. First Manhattan Co. raised its holdings in shares of Ingersoll-Rand by 5.2% in the 1st quarter. First Manhattan Co. now owns 2,851 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 141 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of Ingersoll-Rand by 10.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 101 shares during the period. Finally, Shine Investment Advisory Services Inc. raised its holdings in shares of Ingersoll-Rand by 44.4% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 543 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 167 shares during the period. 77.97% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now directly owns 15,549 shares in the company, valued at $1,990,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jared L. Cohon sold 938 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total transaction of $111,687.66. Following the completion of the transaction, the director now owns 23,697 shares of the company’s stock, valued at $2,821,601.79. The disclosure for this sale can be found here. Insiders have sold a total of 151,441 shares of company stock valued at $18,935,873 over the last 90 days. Company insiders own 0.70% of the company’s stock.
A number of equities research analysts recently commented on the stock. Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a report on Wednesday, May 1st. BMO Capital Markets boosted 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 boosted their target price on shares of Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, ValuEngine cut shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $128.70.
Shares of IR traded up $0.15 during mid-day trading on Thursday, reaching $116.44. 32,936 shares of the stock traded hands, compared to its average volume of 1,378,789. The business has a fifty day simple moving average of $123.55. The firm has a market cap of $28.09 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $128.31.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 EPS. Equities analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.82%. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 37.79%.
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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