L & S Advisors Inc Sells 7,820 Shares of Ingersoll-Rand PLC (NYSE:IR)

L & S Advisors Inc decreased its holdings in Ingersoll-Rand PLC (NYSE:IR) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,605 shares of the industrial products company’s stock after selling 7,820 shares during the period. L & S Advisors Inc’s holdings in Ingersoll-Rand were worth $5,777,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Community Bank & Trust Waco Texas raised its position in Ingersoll-Rand by 1.3% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 6,445 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 80 shares during the period. Leavell Investment Management Inc. raised its position in Ingersoll-Rand by 0.5% in the 2nd quarter. Leavell Investment Management Inc. now owns 18,529 shares of the industrial products company’s stock worth $2,347,000 after purchasing an additional 100 shares during the period. Bank of Nova Scotia raised its position in Ingersoll-Rand by 1.5% in the 2nd quarter. Bank of Nova Scotia now owns 6,807 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 101 shares during the period. CAPROCK Group Inc. raised its position in Ingersoll-Rand by 4.7% in the 2nd quarter. CAPROCK Group Inc. now owns 2,382 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 108 shares during the period. Finally, Bellecapital International Ltd. raised its position in Ingersoll-Rand by 5.2% in the 2nd quarter. Bellecapital International Ltd. now owns 2,415 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 120 shares during the period. 78.20% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Cowen reaffirmed a “buy” rating and set a $131.00 target price on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Jefferies Financial Group lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Tuesday, July 2nd. Morgan Stanley raised their target price on shares of Ingersoll-Rand from $137.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, ValuEngine lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $129.68.

Shares of NYSE:IR opened at $123.66 on Friday. The firm has a market cap of $29.27 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. The firm’s 50 day simple moving average is $119.88 and its 200-day simple moving average is $117.82. Ingersoll-Rand PLC has a one year low of $85.15 and a one year high of $128.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.23.

Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.03. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Equities research analysts predict that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.

In related news, CEO Michael W. Lamach sold 146,733 shares of Ingersoll-Rand stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the transaction, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at $44,529,750. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Evan M. Turtz sold 3,770 shares of Ingersoll-Rand stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total transaction of $482,560.00. Following the transaction, the insider now directly owns 15,549 shares in the company, valued at $1,990,272. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,441 shares of company stock worth $18,935,873. 0.70% of the stock is currently owned by corporate insiders.

About Ingersoll-Rand

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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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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