Teacher Retirement System of Texas cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 13.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 182,748 shares of the industrial products company’s stock after selling 29,589 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ingersoll-Rand were worth $24,291,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Savior LLC bought a new position in Ingersoll-Rand in the fourth quarter valued at about $25,000. NewSquare Capital LLC bought a new position in Ingersoll-Rand in the fourth quarter valued at about $37,000. Global Retirement Partners LLC boosted its holdings in Ingersoll-Rand by 32.0% in the third quarter. Global Retirement Partners LLC now owns 334 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 81 shares during the last quarter. Gradient Investments LLC bought a new position in Ingersoll-Rand in the fourth quarter valued at about $53,000. Finally, Sandy Spring Bank boosted its holdings in Ingersoll-Rand by 735.8% in the third quarter. Sandy Spring Bank now owns 443 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 390 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.
In other Ingersoll-Rand news, SVP Keith A. Sultana sold 3,743 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $143.07, for a total transaction of $535,511.01. Following the transaction, the senior vice president now owns 11,995 shares in the company, valued at $1,716,124.65. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Paul A. Camuti sold 10,710 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $132.19, for a total value of $1,415,754.90. Following the transaction, the senior vice president now owns 70,804 shares in the company, valued at approximately $9,359,580.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,332 shares of company stock worth $38,000,966. Company insiders own 0.58% of the company’s stock.
IR traded up $0.62 during midday trading on Friday, reaching $146.24. 24,043 shares of the company were exchanged, compared to its average volume of 1,570,294. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 1.28. Ingersoll-Rand PLC has a one year low of $102.69 and a one year high of $146.16. The stock has a market capitalization of $34.63 billion, a P/E ratio of 25.28, a PEG ratio of 2.11 and a beta of 1.26. The stock’s 50-day simple moving average is $134.61 and its 200 day simple moving average is $126.70.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.02). Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.50%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the business posted $1.32 EPS. Ingersoll-Rand’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts anticipate that Ingersoll-Rand PLC will post 6.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, March 12th. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 33.28%.
Several equities analysts recently issued reports on IR shares. UBS Group started coverage on Ingersoll-Rand in a report on Thursday, December 12th. They issued a “buy” rating and a $150.00 price target on the stock. Credit Suisse Group raised their price target on Ingersoll-Rand from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets set a $145.00 price target on Ingersoll-Rand and gave the company a “buy” rating in a report on Monday, November 4th. Cfra raised their price target on Ingersoll-Rand from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley raised their price target on Ingersoll-Rand from $147.00 to $154.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $139.06.
Ingersoll-Rand Company Profile
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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