Trexquant Investment LP reduced its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 19.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,531 shares of the industrial products company’s stock after selling 2,469 shares during the period. Trexquant Investment LP’s holdings in Ingersoll-Rand PLC were worth $962,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Israel Discount Bank of New York acquired a new stake in Ingersoll-Rand PLC during the first quarter valued at approximately $126,000. Tradewinds Capital Management LLC boosted its stake in 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 valued at $137,000 after buying an additional 140 shares in the last quarter. Zions Bancorporation boosted its stake in Ingersoll-Rand PLC by 1.1% in the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock valued at $163,000 after buying an additional 22 shares in the last quarter. Parallel Advisors LLC boosted its stake in 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 valued at $178,000 after buying an additional 176 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in 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 valued at $192,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.
Ingersoll-Rand PLC (NYSE:IR) opened at 87.26 on Thursday. The stock’s 50 day moving average price is $90.53 and its 200 day moving average price is $85.57. Ingersoll-Rand PLC has a 12 month low of $62.40 and a 12 month high of $94.39. The firm has a market capitalization of $22.13 billion, a PE ratio of 21.66 and a beta of 1.31.
Ingersoll-Rand PLC (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share 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 analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.38 EPS. Ingersoll-Rand PLC’s revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Ingersoll-Rand PLC will post $4.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, September 7th. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC’s payout ratio is 39.80%.
Several analysts recently commented on the company. UBS AG set a $97.00 target price on Ingersoll-Rand PLC and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub cut Ingersoll-Rand PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $93.00 price target (up from $90.00) on shares of Ingersoll-Rand PLC in a research report on Thursday, July 27th. Zacks Investment Research upgraded Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $87.00 price target on shares of Ingersoll-Rand PLC in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.43.
In related news, insider Paul A. Camuti sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $89.64, for a total value of $313,740.00. Following the completion of the transaction, the insider now owns 61,519 shares in the company, valued at approximately $5,514,563.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 of the company’s stock, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. Insiders sold a total of 14,443 shares of company stock valued at $1,292,381 in the last 90 days. 0.65% of the stock is currently owned by corporate 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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