NumerixS Investment Technologies Inc lessened its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 79.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,400 shares of the industrial products company’s stock after selling 5,475 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Ingersoll-Rand were worth $150,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of IR. MorganRosel Wealth Management LLC raised its position in shares of Ingersoll-Rand by 1.3% in the first quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock valued at $773,000 after purchasing an additional 91 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Ingersoll-Rand by 10.0% in the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 101 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Ingersoll-Rand by 0.5% in the first quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 124 shares during the period. First Manhattan Co. raised its position in shares of Ingersoll-Rand by 5.2% in the first quarter. First Manhattan Co. now owns 2,851 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 141 shares during the period. Finally, Csenge Advisory Group raised its position in shares of Ingersoll-Rand by 3.2% in the fourth quarter. Csenge Advisory Group now owns 4,711 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 148 shares during the period. 78.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Ingersoll-Rand news, insider David S. Regnery sold 7,957 shares of Ingersoll-Rand stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $122.25, for a total transaction of $972,743.25. Following the sale, the insider now owns 58,735 shares in the company, valued at $7,180,353.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher J. Kuehn sold 5,195 shares of Ingersoll-Rand stock in a transaction on Monday, April 1st. The stock was sold at an average price of $109.90, for a total transaction of $570,930.50. Following the sale, the chief accounting officer now owns 25,273 shares in the company, valued at approximately $2,777,502.70. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Shares of IR stock opened at $124.35 on Friday. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $127.08. The firm has a market cap of $29.90 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58.
Ingersoll-Rand (NYSE:IR) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Ingersoll-Rand’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that Ingersoll-Rand PLC will post 6.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 37.79%.
A number of research firms have recently commented on IR. KeyCorp lifted their price target on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Bank of America raised shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and lifted their price target for the company from $105.00 to $130.00 in a research report on Thursday, April 4th. Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a research report on Wednesday, May 1st. Credit Suisse Group lifted their price target on shares of Ingersoll-Rand from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their target price on shares of Ingersoll-Rand from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $123.96.
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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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