First Trust Advisors LP lifted its position in Ingersoll-Rand PLC (NYSE:IR) by 420.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 564,465 shares of the industrial products company’s stock after acquiring an additional 456,072 shares during the quarter. First Trust Advisors LP’s holdings in Ingersoll-Rand were worth $69,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other institutional investors and hedge funds have also recently bought and sold shares of IR. Montecito Bank & Trust raised its position in Ingersoll-Rand by 6.4% during the second quarter. Montecito Bank & Trust now owns 7,528 shares of the industrial products company’s stock worth $954,000 after acquiring an additional 450 shares during the period. WINTON GROUP Ltd grew its holdings in shares of Ingersoll-Rand by 85.0% during the second quarter. WINTON GROUP Ltd now owns 206,409 shares of the industrial products company’s stock worth $26,146,000 after buying an additional 94,809 shares in the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Ingersoll-Rand by 192.4% during the second quarter. Carroll Financial Associates Inc. now owns 655 shares of the industrial products company’s stock worth $83,000 after buying an additional 431 shares in the last quarter. Signature Wealth Management Group grew its holdings in shares of Ingersoll-Rand by 4.1% during the second quarter. Signature Wealth Management Group now owns 6,447 shares of the industrial products company’s stock worth $805,000 after buying an additional 255 shares in the last quarter. Finally, Bangor Savings Bank purchased a new stake in shares of Ingersoll-Rand during the second quarter worth $227,000. Hedge funds and other institutional investors own 78.14% of the company’s stock.
Ingersoll-Rand stock opened at $130.44 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $132.42. The company has a fifty day simple moving average of $121.39 and a 200-day simple moving average of $121.67. The firm has a market capitalization of $31.33 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.90 and a beta of 1.22.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a net margin of 8.38% and a return on equity of 21.72%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Ingersoll-Rand’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
In related news, SVP Keith A. Sultana sold 7,010 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $876,250.00. Following the completion of the sale, the senior vice president now owns 19,608 shares of the company’s stock, valued at $2,451,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marcia J. Avedon sold 7,450 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $129.00, for a total transaction of $961,050.00. Following the completion of the sale, the senior vice president now directly owns 99,075 shares of the company’s stock, valued at approximately $12,780,675. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of research firms have recently issued reports on IR. JPMorgan Chase & Co. dropped their target price on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Morgan Stanley upped their target price on shares of Ingersoll-Rand from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets set a $145.00 target price on shares of Ingersoll-Rand and gave the stock a “buy” rating in a report on Monday, November 4th. Stephens lowered shares of Ingersoll-Rand from an “overweight” rating to an “equal” rating in a report on Monday, October 7th. Finally, Credit Suisse Group upped their target price on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Ingersoll-Rand currently has a consensus rating of “Buy” and a consensus price target of $134.15.
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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