Trust Co. of Virginia VA lowered its stake in Ingersoll-Rand PLC (NYSE:IR) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,332 shares of the industrial products company’s stock after selling 484 shares during the period. Trust Co. of Virginia VA’s holdings in Ingersoll-Rand PLC were worth $5,232,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Synovus Financial Corp increased its stake 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 valued at $105,000 after buying an additional 983 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ingersoll-Rand PLC by 11.7% in the third quarter. Wells Fargo & Company MN now owns 680,249 shares of the industrial products company’s stock valued at $46,217,000 after buying an additional 71,165 shares during the period. APG Asset Management N.V. increased its stake in shares of Ingersoll-Rand PLC by 3.6% in the third quarter. APG Asset Management N.V. now owns 706,537 shares of the industrial products company’s stock valued at $48,002,000 after buying an additional 24,800 shares during the period. Sit Investment Associates Inc. increased its stake in shares of Ingersoll-Rand PLC by 889.7% in the third quarter. Sit Investment Associates Inc. now owns 210,800 shares of the industrial products company’s stock valued at $14,322,000 after buying an additional 189,500 shares during the period. Finally, NEXT Financial Group Inc increased its stake in shares of Ingersoll-Rand PLC by 761.8% in the third quarter. NEXT Financial Group Inc now owns 6,481 shares of the industrial products company’s stock valued at $440,000 after buying an additional 5,729 shares during the period. Institutional investors own 82.76% of the company’s stock.
Ingersoll-Rand PLC (NYSE:IR) traded up 1.52% on Friday, hitting $89.51. The stock had a trading volume of 706,296 shares. The company’s 50-day moving average is $85.58 and its 200-day moving average is $79.51. Ingersoll-Rand PLC has a one year low of $59.10 and a one year high of $90.18. The stock has a market cap of $22.92 billion, a P/E ratio of 16.26 and a beta of 1.31.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.94 billion. Ingersoll-Rand PLC had a return on equity of 16.70% and a net margin of 10.93%. Ingersoll-Rand PLC’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. On average, analysts anticipate that Ingersoll-Rand PLC will post $4.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend 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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Several equities research analysts have weighed in on IR shares. Jefferies Group LLC restated a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, January 25th. Credit Suisse Group AG restated a “buy” rating and set a $84.00 price target on shares of Ingersoll-Rand PLC in a report on Sunday, February 5th. Evercore ISI downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Friday, February 10th. Wells Fargo & Co upgraded Ingersoll-Rand PLC from a “market perform” rating to an “outperform” rating in a report on Monday, March 20th. Finally, Zacks Investment Research upgraded Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, April 5th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $93.00.
In related news, insider Keith A. Sultana sold 1,046 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $79.95, for a total value of $83,627.70. Following the completion of the sale, the insider now directly owns 10,573 shares of the company’s stock, valued at $845,311.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Didier P. Teirlinck sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $80.87, for a total value of $485,220.00. Following the completion of the sale, the executive vice president now directly owns 128,776 shares of the company’s stock, valued at $10,414,115.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,046 shares of company stock valued at $1,464,148. 0.65% of the stock is owned by corporate 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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