Raymond James Financial Services Advisors Inc. increased its position in Ingersoll-Rand PLC (NYSE:IR) by 11.1% in the first quarter, HoldingsChannel reports. The firm owned 304,281 shares of the industrial products company’s stock after purchasing an additional 30,334 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ingersoll-Rand were worth $32,849,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of IR. Trillium Asset Management LLC boosted its stake in Ingersoll-Rand by 12.0% in the first quarter. Trillium Asset Management LLC now owns 183,142 shares of the industrial products company’s stock valued at $19,770,000 after acquiring an additional 19,572 shares during the period. CIBC Asset Management Inc boosted its stake in Ingersoll-Rand by 6.4% in the first quarter. CIBC Asset Management Inc now owns 14,848 shares of the industrial products company’s stock valued at $1,603,000 after acquiring an additional 899 shares during the period. Harvest Group Wealth Management LLC acquired a new position in Ingersoll-Rand in the first quarter valued at approximately $58,000. Wakefield Asset Management LLLP boosted its stake in Ingersoll-Rand by 10.8% in the first quarter. Wakefield Asset Management LLLP now owns 23,972 shares of the industrial products company’s stock valued at $2,588,000 after acquiring an additional 2,343 shares during the period. Finally, Toronto Dominion Bank boosted its stake in Ingersoll-Rand by 13.0% in the first quarter. Toronto Dominion Bank now owns 173,475 shares of the industrial products company’s stock valued at $18,722,000 after acquiring an additional 19,916 shares during the period. Institutional investors and hedge funds own 81.51% of the company’s stock.
In related news, CFO Susan K. Carter sold 70,037 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.67, for a total transaction of $7,400,809.79. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael W. Lamach sold 105,064 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.74, for a total value of $11,109,467.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,760 shares of company stock worth $23,276,480. Corporate insiders own 0.70% of the company’s stock.
A number of equities analysts have commented on IR shares. OTR Global downgraded Ingersoll-Rand to a “positive” rating in a research note on Friday, January 18th. Zacks Investment Research downgraded Ingersoll-Rand from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Cowen restated a “buy” rating and issued a $115.00 target price on shares of Ingersoll-Rand in a research note on Wednesday, January 23rd. Credit Suisse Group restated an “outperform” rating and issued a $115.00 target price (up from $108.00) on shares of Ingersoll-Rand in a research note on Thursday, January 31st. Finally, Morgan Stanley set a $120.00 target price on Ingersoll-Rand and gave the company a “buy” rating in a research note on Tuesday, February 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Ingersoll-Rand presently has a consensus rating of “Buy” and a consensus target price of $123.96.
IR opened at $122.25 on Thursday. The company has a market cap of $29.04 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.77 and a beta of 1.32. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. Ingersoll-Rand PLC has a twelve month low of $85.15 and a twelve month high of $125.26.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.09. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. As a group, analysts anticipate that Ingersoll-Rand PLC will post 6.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.73%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
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Ingersoll-Rand Company 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.
See Also: Cost of Equity For A Business, Investors
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