Lincoln Capital Corp trimmed its holdings in Ingersoll-Rand PLC (NYSE:IR) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,456 shares of the industrial products company’s stock after selling 421 shares during the period. Ingersoll-Rand comprises 1.4% of Lincoln Capital Corp’s holdings, making the stock its 27th biggest position. Lincoln Capital Corp’s holdings in Ingersoll-Rand were worth $1,658,000 as of its most recent SEC filing.
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Several other institutional investors and hedge funds have also added to or reduced their stakes in IR. QCI Asset Management Inc. NY acquired a new stake in Ingersoll-Rand during the 2nd quarter worth approximately $26,000. Arrow Financial Corp lifted its holdings in Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 141 shares during the last quarter. Berman Capital Advisors LLC lifted its holdings in Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 153 shares during the last quarter. Finally, Halbert Hargrove Russell LLC lifted its holdings in Ingersoll-Rand by 1,902.2% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 7,368 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 7,000 shares during the last quarter. 78.14% of the stock is owned by institutional investors.
IR has been the subject of several analyst reports. ValuEngine raised Ingersoll-Rand from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Stephens cut Ingersoll-Rand from an “overweight” rating to an “equal” rating in a report on Monday, October 7th. Cowen reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Ingersoll-Rand in a report on Tuesday, October 29th. Credit Suisse Group lifted their price objective on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, KeyCorp lifted their price objective on Ingersoll-Rand from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $134.15.
In other news, SVP Marcia J. Avedon sold 7,450 shares of Ingersoll-Rand stock in a transaction on Friday, November 1st. The stock was sold at an average price of $129.00, for a total value of $961,050.00. Following the transaction, the senior vice president now owns 99,075 shares in the company, valued at approximately $12,780,675. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Keith A. Sultana sold 7,010 shares of Ingersoll-Rand stock in a transaction on 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 transaction, the senior vice president now owns 19,608 shares in the company, valued at approximately $2,451,000. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
NYSE IR traded up $1.34 during midday trading on Friday, hitting $130.44. The company had a trading volume of 1,010,596 shares, compared to its average volume of 1,386,982. The company has a market capitalization of $31.33 billion, a PE ratio of 23.25, a P/E/G ratio of 1.90 and a beta of 1.22. The company has a current ratio of 1.28, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $121.39 and a 200-day moving average price of $121.67. Ingersoll-Rand PLC has a twelve month low of $85.15 and a twelve month high of $132.42.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company posted $1.75 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.12 annualized dividend and a dividend yield of 1.63%. Ingersoll-Rand’s payout ratio is 37.79%.
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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