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.
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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