First Manhattan Co. reduced its position in Ingersoll-Rand PLC (NYSE:IR) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,881 shares of the industrial products company’s stock after selling 300 shares during the period. First Manhattan Co.’s holdings in Ingersoll-Rand PLC were worth $354,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Israel Discount Bank of New York bought a new position in shares of Ingersoll-Rand PLC during the first quarter worth $126,000. Tradewinds Capital Management LLC increased its position in shares of Ingersoll-Rand PLC by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock worth $137,000 after buying an additional 140 shares in the last quarter. Zions Bancorporation increased its position in shares of Ingersoll-Rand PLC by 1.1% in the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock worth $163,000 after buying an additional 22 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Ingersoll-Rand PLC by 9.6% in the first quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock worth $178,000 after buying an additional 176 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Ingersoll-Rand PLC by 6.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock worth $192,000 after buying an additional 131 shares in the last quarter. 83.11% of the stock is owned by institutional investors.
Ingersoll-Rand PLC (NYSE IR) opened at 87.26 on Thursday. The firm has a market cap of $22.13 billion, a PE ratio of 21.66 and a beta of 1.31. The company’s 50-day moving average is $90.53 and its 200-day moving average is $85.57. Ingersoll-Rand PLC has a one year low of $62.40 and a one year high of $94.39.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. Ingersoll-Rand PLC had a net margin of 9.05% and a return on equity of 21.12%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business earned $1.38 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Ingersoll-Rand PLC will post $4.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.45 per share. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.06%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 39.80%.
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Several brokerages have recently commented on IR. Stifel Nicolaus lifted their price target on shares of Ingersoll-Rand PLC from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Zacks Investment Research cut shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. BMO Capital Markets reiterated a “buy” rating and set a $100.00 price target on shares of Ingersoll-Rand PLC in a research report on Tuesday, May 2nd. UBS AG set a $97.00 price target on shares of Ingersoll-Rand PLC and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Ingersoll-Rand PLC from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Ingersoll-Rand PLC presently has an average rating of “Hold” and a consensus price target of $97.43.
In other Ingersoll-Rand PLC news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the transaction, the director now owns 65,932 shares in the company, valued at approximately $5,803,993.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul A. Camuti sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $89.64, for a total transaction of $313,740.00. Following the transaction, the insider now owns 61,519 shares of the company’s stock, valued at approximately $5,514,563.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,443 shares of company stock valued at $1,292,381. 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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