Strs Ohio raised its stake in Ingersoll-Rand PLC (NYSE:IR) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 704,104 shares of the industrial products company’s stock after purchasing an additional 4,255 shares during the period. Strs Ohio’s holdings in Ingersoll-Rand were worth $93,589,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Ingersoll-Rand by 6.8% during the 3rd quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock worth $1,339,015,000 after purchasing an additional 688,390 shares during the period. Boston Partners lifted its position in Ingersoll-Rand by 466.6% during the 3rd quarter. Boston Partners now owns 588,003 shares of the industrial products company’s stock worth $72,459,000 after acquiring an additional 484,218 shares during the period. First Trust Advisors LP grew its stake in shares of Ingersoll-Rand by 420.8% in the 3rd quarter. First Trust Advisors LP now owns 564,465 shares of the industrial products company’s stock valued at $69,548,000 after purchasing an additional 456,072 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Ingersoll-Rand by 169.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 144,887 shares of the industrial products company’s stock valued at $17,852,000 after purchasing an additional 354,900 shares during the last quarter. Finally, Country Trust Bank purchased a new position in shares of Ingersoll-Rand in the 3rd quarter valued at approximately $27,531,000. 79.53% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on IR shares. JPMorgan Chase & Co. cut their price target on Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. KeyCorp increased their price target on Ingersoll-Rand from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Cowen reiterated a “buy” rating and issued a $131.00 price objective on shares of Ingersoll-Rand in a research report on Tuesday, October 29th. Wolfe Research cut shares of Ingersoll-Rand from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. Finally, Wells Fargo & Co upgraded shares of Ingersoll-Rand from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $137.00.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.08. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. Ingersoll-Rand’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. As a group, sell-side analysts predict that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.
In other Ingersoll-Rand news, SVP Evan M. Turtz sold 3,887 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $135.00, for a total transaction of $524,745.00. Following the transaction, the senior vice president now directly owns 15,681 shares in the company, valued at $2,116,935. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael W. Lamach sold 242,347 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $135.00, for a total transaction of $32,716,845.00. Following the completion of the transaction, the chief executive officer now directly owns 452,129 shares of the company’s stock, valued at $61,037,415. The disclosure for this sale can be found here. In the last three months, insiders sold 282,049 shares of company stock valued at $37,930,655. 0.70% of the stock is owned by corporate insiders.
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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