Sciencast Management LP grew its position in Ingersoll-Rand PLC (NYSE:IR) by 42.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,492 shares of the industrial products company’s stock after purchasing an additional 5,492 shares during the quarter. Sciencast Management LP’s holdings in Ingersoll-Rand were worth $546,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its holdings 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 worth $327,604,000 after buying an additional 2,328,439 shares during the last quarter. DRW Securities LLC bought a new position in Ingersoll-Rand during the first quarter worth about $566,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Ingersoll-Rand by 32.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 287,803 shares of the industrial products company’s stock worth $7,137,000 after purchasing an additional 70,140 shares during the period. Loomis Sayles & Co. L P boosted its position in Ingersoll-Rand by 185,006.5% during the first quarter. Loomis Sayles & Co. L P now owns 1,025,490 shares of the industrial products company’s stock worth $25,432,000 after purchasing an additional 1,024,936 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Ingersoll-Rand by 144.5% during the first quarter. Treasurer of the State of North Carolina now owns 142,182 shares of the industrial products company’s stock worth $3,526,000 after purchasing an additional 84,020 shares during the period. 94.77% of the stock is currently owned by institutional investors.
In related news, major shareholder Kkr Group Partnership L.P. sold 13,782,500 shares of Ingersoll-Rand stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $28.82, for a total value of $397,211,650.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 43,121 shares of Ingersoll-Rand stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $30.17, for a total transaction of $1,300,960.57. Following the completion of the sale, the insider now owns 55,087 shares in the company, valued at approximately $1,661,974.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,990,621 shares of company stock worth $767,986,711. 0.70% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Ingersoll-Rand from $38.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. UBS Group raised their target price on shares of Ingersoll-Rand from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Gordon Haskett began coverage on shares of Ingersoll-Rand in a research note on Tuesday, April 14th. They issued a “buy” rating and a $35.00 target price on the stock. Deutsche Bank downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and raised their target price for the company from $28.00 to $29.00 in a research note on Tuesday, May 12th. Finally, Robert W. Baird raised their target price 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $77.41.
Shares of Ingersoll-Rand stock opened at $31.59 on Friday. 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 52-week low of $17.01 and a 52-week high of $38.96. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 78.98, a P/E/G ratio of 49.80 and a beta of 1.45. The company’s 50 day moving average price is $29.64 and its 200-day moving average price is $56.87.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, May 12th. The industrial products company reported $0.25 earnings per share (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 firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The firm’s revenue for the quarter was down 63.6% on a year-over-year basis. As a group, equities research analysts forecast that Ingersoll-Rand PLC will post 0.08 earnings per share for the current fiscal year.
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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