Cardan Capital Partners LLC reduced its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,995 shares of the company’s stock after selling 27 shares during the period. Cardan Capital Partners LLC’s holdings in Ingersoll-Rand PLC were worth $2,037,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its position in shares of Ingersoll-Rand PLC by 3.0% in the second quarter. American Century Companies Inc. now owns 4,676,382 shares of the company’s stock valued at $297,792,000 after buying an additional 134,737 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Ingersoll-Rand PLC by 39.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,647,905 shares of the company’s stock valued at $226,207,000 after buying an additional 1,030,689 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Ingersoll-Rand PLC by 7.3% in the first quarter. BlackRock Group LTD now owns 2,840,507 shares of the company’s stock valued at $176,140,000 after buying an additional 192,323 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ingersoll-Rand PLC by 0.3% in the first quarter. Geode Capital Management LLC now owns 2,093,664 shares of the company’s stock valued at $129,566,000 after buying an additional 5,470 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Ingersoll-Rand PLC during the fourth quarter valued at approximately $89,181,000. 80.97% of the stock is currently owned by institutional investors.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 1.14% during midday trading on Monday, hitting $65.39. 2,376,759 shares of the stock were exchanged. The company has a market capitalization of $16.87 billion, a P/E ratio of 12.04 and a beta of 1.35. The firm has a 50-day moving average of $66.70 and a 200-day moving average of $64.81. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.08. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, equities analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.96%. Ingersoll-Rand PLC’s payout ratio is currently 23.53%.
IR has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. BMO Capital Markets initiated coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research cut shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.94.
In related news, Director Richard J. Swift sold 2,100 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total transaction of $142,779.00. Following the completion of the sale, the director now directly owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul A. Camuti sold 2,436 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $67.91, for a total value of $165,428.76. Following the sale, the insider now owns 52,240 shares of the company’s stock, valued at $3,547,618.40. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
About Ingersoll-Rand PLC
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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