River Wealth Advisors LLC reduced its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,576 shares of the industrial products company’s stock after selling 104 shares during the period. River Wealth Advisors LLC’s holdings in Ingersoll-Rand were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in IR. Norges Bank acquired a new position in Ingersoll-Rand during the 4th quarter valued at about $360,951,000. Oregon Public Employees Retirement Fund increased its position in Ingersoll-Rand by 8,911.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after buying an additional 2,413,413 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ingersoll-Rand by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after purchasing an additional 1,085,581 shares during the period. BlackRock Inc. increased its holdings in shares of Ingersoll-Rand by 5.0% in the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock valued at $1,716,550,000 after purchasing an additional 901,225 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. increased its holdings in shares of Ingersoll-Rand by 140.0% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 654,013 shares of the industrial products company’s stock valued at $59,665,000 after purchasing an additional 381,480 shares during the period. 81.51% of the stock is currently owned by institutional investors.
IR has been the topic of a number of research reports. ValuEngine raised Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Monday, April 29th. OTR Global lowered Ingersoll-Rand to a “positive” rating in a report on Friday, January 18th. BMO Capital Markets increased their price objective on Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Deutsche Bank initiated coverage on Ingersoll-Rand in a report on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price objective on the stock. Finally, Cowen reissued a “buy” rating and issued a $115.00 price objective on shares of Ingersoll-Rand in a report on Wednesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and a consensus target price of $123.96.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ingersoll-Rand PLC will post 6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.73%. Ingersoll-Rand’s payout ratio is 37.79%.
In other news, insider David S. Regnery sold 7,957 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the sale, the insider now owns 58,735 shares in the company, valued at $7,180,353.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul A. Camuti sold 7,034 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $104.95, for a total value of $738,218.30. Following the completion of the sale, the insider now owns 51,497 shares in the company, valued at approximately $5,404,610.15. The disclosure for this sale can be found here. Insiders sold 218,760 shares of company stock worth $23,276,480 in the last 90 days. Company insiders own 0.70% of the company’s stock.
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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