Ingersoll-Rand PLC (NYSE:IR) Stock Position Trimmed by Mercer Global Advisors Inc. ADV

Share on StockTwits

Mercer Global Advisors Inc. ADV cut its position in Ingersoll-Rand PLC (NYSE:IR) by 38.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,074 shares of the industrial products company’s stock after selling 9,462 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Ingersoll-Rand were worth $374,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Advisory Alpha LLC lifted its position in Ingersoll-Rand by 1,328.6% in the 4th quarter. Advisory Alpha LLC now owns 200 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 186 shares during the last quarter. Ameritas Investment Company LLC raised its position in shares of Ingersoll-Rand by 474.4% during the 4th quarter. Ameritas Investment Company LLC now owns 247 shares of the industrial products company’s stock worth $33,000 after buying an additional 204 shares in the last quarter. Solstein Capital LLC bought a new stake in shares of Ingersoll-Rand during the 4th quarter worth about $40,000. Fred Alger Management LLC raised its position in shares of Ingersoll-Rand by 97.6% during the 4th quarter. Fred Alger Management LLC now owns 494 shares of the industrial products company’s stock worth $66,000 after buying an additional 244 shares in the last quarter. Finally, Verus Capital Partners LLC bought a new stake in shares of Ingersoll-Rand during the 4th quarter worth about $71,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

IR has been the topic of a number of recent analyst reports. Credit Suisse Group boosted their price target on shares of Ingersoll-Rand from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Deutsche Bank downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and boosted their target price for the stock from $28.00 to $29.00 in a report on Tuesday, May 12th. Barclays reiterated a “buy” rating and issued a $32.00 target price on shares of Ingersoll-Rand in a report on Wednesday, May 13th. Stifel Nicolaus dropped their target price on shares of Ingersoll-Rand from $38.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Finally, UBS Group boosted their target price on shares of Ingersoll-Rand from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $80.89.

NYSE IR opened at $27.23 on Monday. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $11.34 billion, a PE ratio of 68.08, a price-to-earnings-growth ratio of 343.38 and a beta of 1.46. The company has a 50 day moving average price of $29.41 and a two-hundred day moving average price of $75.00. Ingersoll-Rand PLC has a 12-month low of $17.01 and a 12-month high of $38.96.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). Ingersoll-Rand had a return on equity of 2.12% and a net margin of 2.86%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Ingersoll-Rand’s quarterly revenue was down 63.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ingersoll-Rand PLC will post 0.01 EPS for the current year.

In related news, major shareholder Kkr Group Partnership L.P. sold 13,782,500 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $28.82, for a total transaction of $397,211,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 65,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $25.14, for a total transaction of $1,634,100.00. Following the transaction, the insider now owns 76,966 shares of the company’s stock, valued at $1,934,925.24. The disclosure for this sale can be found here. Insiders sold 25,947,500 shares of company stock valued at $766,685,750 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

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.

Read More: How to Invest in Marijuana Stocks

Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll-Rand PLC (NYSE:IR).

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

Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Graham Holdings Co  Shares Acquired by Voloridge Investment Management LLC
Graham Holdings Co Shares Acquired by Voloridge Investment Management LLC
Wellington Management Group LLP Raises Holdings in Atkore International Group Inc
Wellington Management Group LLP Raises Holdings in Atkore International Group Inc
Ingersoll-Rand PLC  Stock Position Trimmed by Mercer Global Advisors Inc. ADV
Ingersoll-Rand PLC Stock Position Trimmed by Mercer Global Advisors Inc. ADV
Clearbridge Investments LLC Has $11.49 Million Stock Holdings in SkyWest, Inc.
Clearbridge Investments LLC Has $11.49 Million Stock Holdings in SkyWest, Inc.
AQR Capital Management LLC Sells 2,967 Shares of Cullen/Frost Bankers, Inc.
AQR Capital Management LLC Sells 2,967 Shares of Cullen/Frost Bankers, Inc.
AQR Capital Management LLC Boosts Holdings in Triple-S Management Corp.
AQR Capital Management LLC Boosts Holdings in Triple-S Management Corp.


 
© 2006-2020 Zolmax.