L & S Advisors Inc lowered its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,605 shares of the industrial products company’s stock after selling 7,820 shares during the period. L & S Advisors Inc’s holdings in Ingersoll-Rand were worth $5,777,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of IR. Arrow Financial Corp lifted its holdings in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares in the last quarter. Berman Capital Advisors LLC lifted its holdings in shares of Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Ibex Wealth Advisors bought a new position in shares of Ingersoll-Rand during the 2nd quarter valued at about $66,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Ingersoll-Rand by 209.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 607 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.
In other Ingersoll-Rand news, CEO Michael W. Lamach sold 146,733 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at $44,529,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jared L. Cohon sold 938 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the completion of the sale, the director now directly owns 23,697 shares of the company’s stock, valued at $2,821,601.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,441 shares of company stock valued at $18,935,873. Company insiders own 0.70% of the company’s stock.
Ingersoll-Rand (NYSE:IR) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Ingersoll-Rand PLC will post 6.4 EPS for the current year.
Several equities analysts have recently weighed in on the company. Credit Suisse Group lifted their price objective on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price target on Ingersoll-Rand from $137.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Cowen reaffirmed a “buy” rating and set a $131.00 price target on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Jefferies Financial Group lowered Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research report on Tuesday, July 2nd. Finally, ValuEngine lowered Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $129.68.
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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