Great West Life Assurance Co. Can increased its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 29.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 218,839 shares of the industrial products company’s stock after acquiring an additional 49,386 shares during the period. Great West Life Assurance Co. Can’s holdings in Ingersoll-Rand were worth $23,566,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Ingersoll-Rand by 0.3% in the third quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock valued at $1,753,427,000 after purchasing an additional 43,240 shares during the period. Manning & Napier Group LLC boosted its stake in Ingersoll-Rand by 12.4% during the fourth quarter. Manning & Napier Group LLC now owns 55,455 shares of the industrial products company’s stock worth $5,058,000 after buying an additional 6,131 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Ingersoll-Rand by 17.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 100,000 shares of the industrial products company’s stock worth $9,123,000 after buying an additional 15,000 shares during the period. CWM LLC boosted its stake in Ingersoll-Rand by 13.8% during the fourth quarter. CWM LLC now owns 1,806 shares of the industrial products company’s stock worth $165,000 after buying an additional 219 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Ingersoll-Rand by 98.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,585 shares of the industrial products company’s stock worth $417,000 after buying an additional 2,277 shares during the period. 79.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:IR opened at $120.19 on Friday. The company has a market capitalization of $28.98 billion, a P/E ratio of 21.42, a PEG ratio of 1.81 and a beta of 1.32. Ingersoll-Rand PLC has a fifty-two week low of $85.15 and a fifty-two week high of $125.26. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. As a group, analysts predict that Ingersoll-Rand PLC will post 6.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a yield of 1.76%. Ingersoll-Rand’s payout ratio is currently 37.79%.
In other Ingersoll-Rand news, Chairman Michael W. Lamach sold 105,064 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.74, for a total transaction of $11,109,467.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marcia J. Avedon sold 13,268 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.75, for a total transaction of $1,403,091.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,726 shares of company stock worth $22,538,262. 0.70% of the stock is owned by corporate insiders.
Several research analysts have weighed in on IR shares. Zacks Investment Research raised shares of Ingersoll-Rand from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Credit Suisse Group reaffirmed an “outperform” rating and set a $115.00 target price (up previously from $108.00) on shares of Ingersoll-Rand in a research note on Thursday, January 31st. Morgan Stanley set a $120.00 target price on shares of Ingersoll-Rand and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Deutsche Bank started coverage on shares of Ingersoll-Rand in a research note on Wednesday, March 13th. They set a “hold” rating and a $107.00 target price for the company. Finally, Wells Fargo & Co lowered shares of Ingersoll-Rand from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $110.00 to $113.00 in a research note on Monday, March 18th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.96.
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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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