Hartford Investment Management Co. reduced its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 27,523 shares of the industrial products company’s stock after selling 275 shares during the period. Hartford Investment Management Co.’s holdings in Ingersoll-Rand were worth $2,511,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in IR. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 1,085,581 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Ingersoll-Rand in the 3rd quarter valued at about $100,178,000. FMR LLC increased its position in Ingersoll-Rand by 18.8% in the 3rd quarter. FMR LLC now owns 5,304,443 shares of the industrial products company’s stock valued at $542,645,000 after acquiring an additional 838,513 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Ingersoll-Rand by 10.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,609,711 shares of the industrial products company’s stock valued at $778,473,000 after acquiring an additional 740,151 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Ingersoll-Rand by 259.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 791,018 shares of the industrial products company’s stock valued at $80,921,000 after acquiring an additional 570,815 shares in the last quarter. 79.63% of the stock is owned by hedge funds and other institutional investors.
IR has been the subject of several research reports. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research cut shares of Ingersoll-Rand from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Cowen restated a “buy” rating and issued a $115.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Credit Suisse Group initiated coverage on shares of Ingersoll-Rand in a research report on Friday, October 12th. They issued an “outperform” rating and a $108.00 price objective for the company. Finally, OTR Global cut shares of Ingersoll-Rand to a “positive” rating in a research report on Friday, January 18th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $109.77.
IR opened at $101.92 on Friday. Ingersoll-Rand PLC has a twelve month low of $79.63 and a twelve month high of $107.08. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.33 and a quick ratio of 0.94. The stock has a market cap of $24.87 billion, a P/E ratio of 18.17, a PEG ratio of 1.59 and a beta of 1.26.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. Ingersoll-Rand’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Ingersoll-Rand PLC will post 6.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a $0.53 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.08%. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 37.79%.
In other news, VP Christopher J. Kuehn sold 6,501 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $99.85, for a total value of $649,124.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcia J. Avedon sold 6,486 shares of the stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $99.24, for a total transaction of $643,670.64. The disclosure for this sale can be found here. Insiders sold 179,394 shares of company stock valued at $16,334,324 in the last three months. Company insiders own 0.70% of the company’s stock.
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Ingersoll-Rand Company Profile
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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