FTB Advisors Inc. reduced its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 4,872 shares of the company’s stock after selling 165 shares during the period. FTB Advisors Inc.’s holdings in Ingersoll-Rand PLC were worth $310,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Quantum Capital Management purchased a new position in Ingersoll-Rand PLC during the first quarter worth about $8,153,000. Schonfeld Strategic Advisors LLC purchased a new position in Ingersoll-Rand PLC during the first quarter worth about $1,260,000. Springbok Capital Management LLC purchased a new position in Ingersoll-Rand PLC during the first quarter worth about $999,000. Nuveen Asset Management LLC increased its position in Ingersoll-Rand PLC by 319.7% in the first quarter. Nuveen Asset Management LLC now owns 75,802 shares of the company’s stock worth $4,700,000 after buying an additional 57,742 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ingersoll-Rand PLC by 38.0% in the first quarter. Wellington Management Group LLP now owns 1,552,665 shares of the company’s stock worth $96,281,000 after buying an additional 427,812 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded up 0.92% during mid-day trading on Friday, reaching $65.99. The company had a trading volume of 952,935 shares. The firm’s 50 day moving average price is $66.35 and its 200-day moving average price is $65.48. Ingersoll-Rand PLC has a 12 month low of $47.08 and a 12 month high of $68.97. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 12.15 and a beta of 1.26.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm posted $1.20 EPS. Ingersoll-Rand PLC’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.45%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s payout ratio is presently 23.53%.
A number of research firms have recently issued reports on IR. BMO Capital Markets began coverage on Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 price target on the stock. Stifel Nicolaus dropped their price target on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock 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 Thursday, July 28th. Zacks Investment Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, KeyCorp reissued a “hold” rating on shares of Ingersoll-Rand PLC in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Ingersoll-Rand PLC currently has a consensus rating of “Buy” and an average price target of $68.00.
In other news, SVP Keith A. Sultana sold 3,071 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $68.81, for a total transaction of $211,315.51. Following the completion of the transaction, the senior vice president now directly owns 10,698 shares of the company’s stock, valued at approximately $736,129.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul A. Camuti sold 2,436 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $67.91, for a total value of $165,428.76. Following the transaction, the insider now directly owns 52,240 shares of the company’s stock, valued at $3,547,618.40. The disclosure for this sale can be found here. Corporate 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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