Nisa Investment Advisors LLC reduced its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,738 shares of the industrial products company’s stock after selling 537 shares during the period. Nisa Investment Advisors LLC’s holdings in Ingersoll-Rand were worth $2,102,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of IR. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in Ingersoll-Rand during the first quarter valued at $1,752,644,000. Wellington Management Group LLP lifted its position in Ingersoll-Rand by 208.4% during the first quarter. Wellington Management Group LLP now owns 22,891,752 shares of the industrial products company’s stock valued at $567,715,000 after purchasing an additional 15,469,364 shares during the period. BlackRock Inc. lifted its position in Ingersoll-Rand by 33.4% during the first quarter. BlackRock Inc. now owns 22,654,377 shares of the industrial products company’s stock valued at $561,827,000 after purchasing an additional 5,675,371 shares during the period. State Street Corp lifted its position in Ingersoll-Rand by 21.4% during the first quarter. State Street Corp now owns 13,209,832 shares of the industrial products company’s stock valued at $327,604,000 after purchasing an additional 2,328,439 shares during the period. Finally, Viking Global Investors LP acquired a new position in Ingersoll-Rand during the first quarter valued at $297,903,000. Institutional investors and hedge funds own 94.77% of the company’s stock.
In other news, insider Andrew R. Schiesl sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $25.14, for a total value of $1,634,100.00. Following the transaction, the insider now directly owns 76,966 shares in the company, valued at approximately $1,934,925.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 13,782,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $28.82, for a total transaction of $397,211,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,990,621 shares of company stock worth $767,986,711. Company insiders own 0.70% of the company’s stock.
A number of analysts have recently commented on IR shares. Barclays reissued a “buy” rating and set a $32.00 target price on shares of Ingersoll-Rand in a research note on Wednesday, May 13th. Wolfe Research initiated coverage on shares of Ingersoll-Rand in a research note on Monday, May 4th. They set a “peer perform” rating and a $31.00 target price for the company. Robert W. Baird upped their price objective on shares of Ingersoll-Rand from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Morgan Stanley upped their price objective on shares of Ingersoll-Rand from $28.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus dropped their price objective on shares of Ingersoll-Rand from $38.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $77.41.
Shares of IR stock opened at $31.59 on Friday. The firm’s 50 day moving average price is $29.64 and its 200-day moving average price is $56.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.32 and a current ratio of 2.11. Ingersoll-Rand PLC has a one year low of $17.01 and a one year high of $38.96. The firm has a market cap of $13.16 billion, a P/E ratio of 78.98, a P/E/G ratio of 49.80 and a beta of 1.45.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Ingersoll-Rand had a return on equity of 2.12% and a net margin of 2.86%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The business’s revenue was down 63.6% compared to the same quarter last year. As a group, research analysts predict that Ingersoll-Rand PLC will post 0.08 EPS for the current fiscal year.
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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