Fisher Asset Management LLC lowered its stake in Ingersoll-Rand PLC (NYSE:IR) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,614 shares of the industrial products company’s stock after selling 284 shares during the period. Fisher Asset Management LLC’s holdings in Ingersoll-Rand PLC were worth $213,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Apriem Advisors bought a new stake in shares of Ingersoll-Rand PLC during the third quarter valued at about $104,000. Synovus Financial Corp increased its position in shares of Ingersoll-Rand PLC by 175.2% in the third quarter. Synovus Financial Corp now owns 1,544 shares of the industrial products company’s stock worth $105,000 after buying an additional 983 shares during the period. Bessemer Group Inc. increased its position in shares of Ingersoll-Rand PLC by 20.1% in the fourth quarter. Bessemer Group Inc. now owns 1,693 shares of the industrial products company’s stock worth $127,000 after buying an additional 283 shares during the period. Parallel Advisors LLC acquired a new position in shares of Ingersoll-Rand PLC during the fourth quarter worth about $137,000. Finally, SRB Corp increased its position in shares of Ingersoll-Rand PLC by 5.6% in the third quarter. SRB Corp now owns 2,313 shares of the industrial products company’s stock worth $157,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 82.76% of the company’s stock.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 1.11% during trading on Friday, hitting $89.15. The stock had a trading volume of 241,883 shares. The stock has a 50 day moving average of $85.58 and a 200 day moving average of $79.51. Ingersoll-Rand PLC has a 12 month low of $59.10 and a 12 month high of $90.18. The company has a market cap of $22.82 billion, a PE ratio of 16.20 and a beta of 1.31.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.94 billion. Ingersoll-Rand PLC had a net margin of 10.93% and a return on equity of 16.70%. Ingersoll-Rand PLC’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Equities analysts forecast that Ingersoll-Rand PLC will post $4.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, June 7th. Ingersoll-Rand PLC’s dividend payout ratio is currently 28.42%.
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A number of brokerages have issued reports on IR. Royal Bank of Canada upped their price objective on Ingersoll-Rand PLC from $83.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Zacks Investment Research raised Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday. Evercore ISI cut Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research report on Friday, February 10th. BMO Capital Markets reissued a “buy” rating and set a $100.00 price objective on shares of Ingersoll-Rand PLC in a report on Tuesday, May 2nd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, January 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $93.00.
In other news, insider Marcia J. Avedon sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $89.53, for a total value of $895,300.00. Following the transaction, the insider now owns 118,297 shares of the company’s stock, valued at approximately $10,591,130.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith A. Sultana sold 1,046 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $79.95, for a total transaction of $83,627.70. Following the completion of the transaction, the insider now directly owns 10,573 shares in the company, valued at approximately $845,311.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,046 shares of company stock worth $1,464,148. 0.65% of the stock is currently owned by insiders.
About Ingersoll-Rand PLC
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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