Ingersoll-Rand PLC (IR) Position Cut by Westover Capital Advisors LLC

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Westover Capital Advisors LLC decreased its position in Ingersoll-Rand PLC (NYSE:IR) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,074 shares of the industrial products company’s stock after selling 5,784 shares during the period. Westover Capital Advisors LLC’s holdings in Ingersoll-Rand were worth $1,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its holdings in shares of Ingersoll-Rand by 8,911.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 2,413,413 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Ingersoll-Rand by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after purchasing an additional 1,085,581 shares during the period. Nordea Investment Management AB acquired a new position in shares of Ingersoll-Rand during the third quarter valued at about $100,178,000. BlackRock Inc. raised its holdings in shares of Ingersoll-Rand by 5.0% during the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock valued at $1,716,550,000 after purchasing an additional 901,225 shares during the period. Finally, FMR LLC raised its holdings in shares of Ingersoll-Rand by 18.8% during the third quarter. FMR LLC now owns 5,304,443 shares of the industrial products company’s stock valued at $542,645,000 after purchasing an additional 838,513 shares during the period. Institutional investors and hedge funds own 79.20% of the company’s stock.

In other news, Chairman Michael W. Lamach sold 105,064 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael W. Lamach sold 166,407 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $90.39, for a total transaction of $15,041,528.73. Following the sale, the chief executive officer now directly owns 417,275 shares of the company’s stock, valued at $37,717,487.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 403,959 shares of company stock valued at $40,020,670. 0.70% of the stock is currently owned by insiders.

Shares of NYSE:IR traded up $1.28 during midday trading on Thursday, hitting $106.19. 7,795 shares of the company’s stock were exchanged, compared to its average volume of 1,367,735. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.33 and a quick ratio of 0.94. The company has a market cap of $25.80 billion, a PE ratio of 18.89, a PEG ratio of 1.65 and a beta of 1.28. Ingersoll-Rand PLC has a 12 month low of $79.63 and a 12 month high of $107.75.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.29 by $0.03. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. On average, equities research analysts expect that Ingersoll-Rand PLC will post 6.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 7th. Ingersoll-Rand’s payout ratio is presently 37.79%.

Several brokerages have recently weighed in on IR. Cowen reiterated a “buy” rating and set a $115.00 price objective on shares of Ingersoll-Rand in a report on Wednesday, January 23rd. OTR Global lowered shares of Ingersoll-Rand to a “positive” rating in a report on Friday, January 18th. Wells Fargo & Co lowered shares of Ingersoll-Rand from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $110.00 to $113.00 in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Thursday, December 20th. Finally, Morgan Stanley set a $120.00 price objective on shares of Ingersoll-Rand and gave the company a “buy” rating in a report on Tuesday, February 26th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Ingersoll-Rand has an average rating of “Buy” and an average price target of $111.21.

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Ingersoll-Rand Profile

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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