Mackay Shields LLC Invests $2.62 Million in Ingersoll-Rand PLC (NYSE:IR)

Mackay Shields LLC purchased a new position in shares of Ingersoll-Rand PLC (NYSE:IR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 105,605 shares of the industrial products company’s stock, valued at approximately $2,619,000. Mackay Shields LLC owned 0.05% of Ingersoll-Rand as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. National Asset Management Inc. increased its stake in shares of Ingersoll-Rand by 3.7% during the fourth quarter. National Asset Management Inc. now owns 2,076 shares of the industrial products company’s stock worth $276,000 after acquiring an additional 75 shares during the period. Savant Capital LLC grew its position in Ingersoll-Rand by 3.2% during the fourth quarter. Savant Capital LLC now owns 2,702 shares of the industrial products company’s stock worth $359,000 after buying an additional 85 shares during the period. Waldron Private Wealth LLC grew its position in Ingersoll-Rand by 4.7% during the fourth quarter. Waldron Private Wealth LLC now owns 1,907 shares of the industrial products company’s stock worth $253,000 after buying an additional 85 shares during the period. Wetherby Asset Management Inc. grew its position in Ingersoll-Rand by 1.7% during the fourth quarter. Wetherby Asset Management Inc. now owns 5,734 shares of the industrial products company’s stock worth $762,000 after buying an additional 96 shares during the period. Finally, Wealthsource Partners LLC grew its position in Ingersoll-Rand by 2.1% during the fourth quarter. Wealthsource Partners LLC now owns 4,925 shares of the industrial products company’s stock worth $655,000 after buying an additional 101 shares during the period.

Shares of IR opened at $28.54 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. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 71.35, a PEG ratio of 370.87 and a beta of 1.50. The company’s 50 day simple moving average is $26.95 and its 200 day simple moving average is $92.49. Ingersoll-Rand PLC has a 1 year low of $17.01 and a 1 year high of $38.96.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data 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). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Ingersoll-Rand had a net margin of 2.86% and a return on equity of 2.12%. The business’s quarterly revenue was down 63.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts expect that Ingersoll-Rand PLC will post 0.01 EPS for the current fiscal year.

Several research analysts have weighed in on the stock. Robert W. Baird upped their target price on shares of Ingersoll-Rand from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wells Fargo & Co upped their target price on shares of Ingersoll-Rand from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. KeyCorp upped their target price on shares of Ingersoll-Rand from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Cowen reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ingersoll-Rand in a report on Wednesday, January 29th. Finally, Deutsche Bank downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and upped their price target for the company from $28.00 to $29.00 in a report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $86.61.

In related 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 transaction of $1,634,100.00. Following the transaction, the insider now owns 76,966 shares of the company’s stock, valued at $1,934,925.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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