First Trust Advisors LP Has $59.13 Million Holdings in Ingersoll-Rand PLC (IR)

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First Trust Advisors LP raised its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 290.8% in the first quarter, HoldingsChannel reports. The firm owned 547,727 shares of the industrial products company’s stock after purchasing an additional 407,571 shares during the period. First Trust Advisors LP’s holdings in Ingersoll-Rand were worth $59,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MorganRosel Wealth Management LLC increased its position in shares of Ingersoll-Rand by 1.3% during the first quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock valued at $773,000 after acquiring an additional 91 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Ingersoll-Rand by 10.0% during the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 101 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Ingersoll-Rand by 0.5% during the first quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 124 shares in the last quarter. Sigma Planning Corp increased its position in shares of Ingersoll-Rand by 2.0% during the fourth quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 136 shares in the last quarter. Finally, First Manhattan Co. increased its position in shares of Ingersoll-Rand by 5.2% during the first quarter. First Manhattan Co. now owns 2,851 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 141 shares in the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on IR. KeyCorp raised their price target on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Bank of America raised shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and raised their price target for the company from $105.00 to $130.00 in a research report on Thursday, April 4th. Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target for the company in a research report on Wednesday, May 1st. Credit Suisse Group raised their price target on shares of Ingersoll-Rand from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on shares of Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Ingersoll-Rand has a consensus rating of “Buy” and a consensus target price of $123.96.

In other news, CAO Christopher J. Kuehn sold 5,195 shares of Ingersoll-Rand stock in a transaction on Monday, April 1st. The shares were sold at an average price of $109.90, for a total transaction of $570,930.50. Following the transaction, the chief accounting officer now owns 25,273 shares in the company, valued at approximately $2,777,502.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David S. Regnery sold 7,957 shares of Ingersoll-Rand stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total transaction of $972,743.25. Following the transaction, the insider now owns 58,735 shares in the company, valued at approximately $7,180,353.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 211,726 shares of company stock valued at $22,538,262. 0.70% of the stock is currently owned by insiders.

NYSE:IR opened at $120.19 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75. Ingersoll-Rand PLC has a 12 month low of $85.15 and a 12 month high of $125.26. The company has a market capitalization of $28.98 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.81 and a beta of 1.32.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Ingersoll-Rand PLC will post 6.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, June 6th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

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About Ingersoll-Rand

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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