Voya Financial Advisors Inc. raised its position in Ingersoll-Rand PLC (NYSE:IR) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,255 shares of the industrial products company’s stock after acquiring an additional 249 shares during the period. Voya Financial Advisors Inc.’s holdings in Ingersoll-Rand were worth $279,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of IR. QCI Asset Management Inc. NY acquired a new position in shares of Ingersoll-Rand in the 2nd quarter worth approximately $26,000. Arrow Financial Corp boosted its position in shares of Ingersoll-Rand by 232.6% in the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Berman Capital Advisors LLC boosted its position in shares of Ingersoll-Rand by 93.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 153 shares during the last quarter. Halbert Hargrove Russell LLC raised its stake in Ingersoll-Rand by 1,902.2% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 7,368 shares of the industrial products company’s stock worth $46,000 after buying an additional 7,000 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in Ingersoll-Rand during the 3rd quarter worth $48,000. 78.92% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Marcia J. Avedon sold 7,450 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $129.00, for a total transaction of $961,050.00. Following the completion of the sale, the senior vice president now owns 99,075 shares in the company, valued at $12,780,675. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Keith A. Sultana sold 7,010 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $876,250.00. Following the sale, the senior vice president now owns 19,608 shares of the company’s stock, valued at approximately $2,451,000. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
Several brokerages recently commented on IR. JPMorgan Chase & Co. dropped their price objective on Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets set a $145.00 price objective on Ingersoll-Rand and gave the stock a “buy” rating in a research note on Monday, November 4th. ValuEngine raised Ingersoll-Rand from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Stephens downgraded Ingersoll-Rand from an “overweight” rating to an “equal” rating in a research note on Monday, October 7th. Finally, Barclays reaffirmed a “buy” rating and set a $134.00 price objective on shares of Ingersoll-Rand in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $135.25.
IR opened at $131.11 on Monday. The business’s 50-day moving average price is $125.13 and its two-hundred day moving average price is $122.79. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $132.42. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.88.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. Sell-side analysts anticipate that Ingersoll-Rand PLC will post 6.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.
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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