IFG Advisory LLC raised its stake in Ingersoll-Rand PLC (NYSE:IR) by 9.2% in the 1st quarter, HoldingsChannel reports. The fund owned 5,507 shares of the industrial products company’s stock after purchasing an additional 466 shares during the period. IFG Advisory LLC’s holdings in Ingersoll-Rand were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Resources Investment Advisors Inc. acquired a new stake in shares of Ingersoll-Rand during the fourth quarter worth about $27,000. Ruggie Capital Group acquired a new stake in shares of Ingersoll-Rand during the fourth quarter worth about $28,000. WP Advisors LLC acquired a new stake in shares of Ingersoll-Rand during the first quarter worth about $34,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Ingersoll-Rand during the first quarter worth about $38,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Ingersoll-Rand during the fourth quarter worth about $32,000. Institutional investors own 79.55% of the company’s stock.
In other Ingersoll-Rand news, CFO Susan K. Carter sold 70,037 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.67, for a total value of $7,400,809.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David S. Regnery sold 7,957 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $122.25, for a total transaction of $972,743.25. Following the completion of the transaction, the insider now directly owns 58,735 shares of the company’s stock, valued at $7,180,353.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,726 shares of company stock valued at $22,538,262. 0.70% of the stock is currently owned by corporate insiders.
Shares of Ingersoll-Rand stock opened at $120.76 on Friday. Ingersoll-Rand PLC has a 12-month low of $85.15 and a 12-month high of $125.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.58 and a quick ratio of 1.14. The stock has a market capitalization of $29.49 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.81 and a beta of 1.32.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Ingersoll-Rand PLC will post 6.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a yield of 1.76%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
A number of brokerages recently commented on IR. Deutsche Bank upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price objective for the company in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Bank of America upgraded shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and raised their price objective for the company from $105.00 to $130.00 in a research report on Thursday, April 4th. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Tuesday, April 2nd. Finally, Morgan Stanley set a $120.00 price objective on shares of Ingersoll-Rand and gave the company a “buy” rating in a research report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Ingersoll-Rand presently has an average rating of “Buy” and an average target price of $123.96.
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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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