Advisor Group Inc. cut its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,787 shares of the industrial products company’s stock after selling 762 shares during the period. Advisor Group Inc.’s holdings in Ingersoll-Rand were worth $1,319,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Calton & Associates Inc. acquired a new stake in shares of Ingersoll-Rand during the fourth quarter valued at about $112,000. Resources Investment Advisors Inc. increased its position in shares of Ingersoll-Rand by 218.6% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 929 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Ingersoll-Rand during the third quarter valued at about $152,000. Advisory Services Network LLC grew its holdings 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 purchasing an additional 680 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Ingersoll-Rand by 185.5% in the third quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,278 shares in the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.
In other news, insider Paul A. Camuti sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $85.15, for a total transaction of $142,881.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jared L. Cohon sold 2,350 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total transaction of $217,140.00. Following the completion of the sale, the director now owns 25,766 shares of the company’s stock, valued at approximately $2,380,778.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,872 shares of company stock valued at $6,305,659 in the last 90 days. Insiders own 0.63% of the company’s stock.
IR has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on shares of Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Citigroup dropped their price objective on shares of Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating for the company in a report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $106.00 price objective on shares of Ingersoll-Rand in a report on Friday, February 16th. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Monday, January 22nd. Finally, Barclays initiated coverage on shares of Ingersoll-Rand in a report on Thursday, February 15th. They issued an “overweight” rating and a $111.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Ingersoll-Rand presently has a consensus rating of “Hold” and a consensus target price of $103.23.
NYSE IR traded up $0.71 on Thursday, hitting $84.30. 997,883 shares of the stock were exchanged, compared to its average volume of 1,799,143. 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 fifty-two week low of $81.25 and a fifty-two week high of $97.67. The stock has a market capitalization of $21,095.65, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.52 billion. Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. equities research analysts expect that Ingersoll-Rand PLC will post 5.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.14%. Ingersoll-Rand’s dividend payout ratio is presently 39.91%.
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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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