Essex Investment Management Co. LLC continued to hold its position in Ingersoll-Rand PLC (NYSE:IR) during the second quarter, Holdings Channel reports. The institutional investor owned 3,383 shares of the company’s stock at the end of the second quarter. Essex Investment Management Co. LLC’s holdings in Ingersoll-Rand PLC were worth $215,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Virginia Retirement System acquired a new position in shares of Ingersoll-Rand PLC during the first quarter worth $262,000. Pacad Investment Ltd. acquired a new position in shares of Ingersoll-Rand PLC during the first quarter worth $645,000. Prudential Financial Inc. increased its position in shares of Ingersoll-Rand PLC by 1.2% in the first quarter. Prudential Financial Inc. now owns 316,923 shares of the company’s stock worth $19,652,000 after buying an additional 3,670 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Ingersoll-Rand PLC during the first quarter worth $211,000. Finally, BlackRock Group LTD increased 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 worth $176,140,000 after buying an additional 192,323 shares in the last quarter. 80.97% of the stock is owned by institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded down 1.93% on Friday, hitting $67.45. 1,927,781 shares of the company were exchanged. The firm’s 50 day moving average is $66.54 and its 200 day moving average is $65.39. Ingersoll-Rand PLC has a 52 week low of $47.08 and a 52 week high of $68.97. The company has a market capitalization of $17.40 billion, a P/E ratio of 12.42 and a beta of 1.26.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.30 by $0.08. The firm earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. Ingersoll-Rand PLC’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, equities research analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be paid a dividend of $0.40 per share. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
IR has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Stifel Nicolaus reduced their price target on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Wednesday, August 3rd. Credit Suisse Group AG reissued a “buy” rating and set a $72.00 price target on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. Finally, BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price target for the company. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.00.
In other Ingersoll-Rand PLC news, insider Marcia J. Avedon sold 5,815 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total transaction of $396,408.55. Following the transaction, the insider now owns 117,192 shares in the company, valued at approximately $7,988,978.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Swift sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total transaction of $142,779.00. Following the transaction, the director now owns 66,648 shares in the company, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
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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