Wesbanco Bank Inc. Sells 626 Shares of Ingersoll-Rand PLC (IR)

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Wesbanco Bank Inc. reduced its position in Ingersoll-Rand PLC (NYSE:IR) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,502 shares of the industrial products company’s stock after selling 626 shares during the quarter. Wesbanco Bank Inc.’s holdings in Ingersoll-Rand were worth $1,962,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Ingersoll-Rand by 10.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,609,711 shares of the industrial products company’s stock worth $778,473,000 after purchasing an additional 740,151 shares in the last quarter. Carnick & Kubik Group LLC boosted its position in shares of Ingersoll-Rand by 36.5% during the 3rd quarter. Carnick & Kubik Group LLC now owns 40,000 shares of the industrial products company’s stock worth $4,092,000 after purchasing an additional 10,700 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Ingersoll-Rand by 9.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 30,002 shares of the industrial products company’s stock worth $3,069,000 after purchasing an additional 2,670 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Ingersoll-Rand by 9,536.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 72,657 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 71,903 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Ingersoll-Rand by 11.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 14,691 shares of the industrial products company’s stock worth $1,503,000 after purchasing an additional 1,507 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors.

Several research firms recently commented on IR. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Cowen reiterated a “buy” rating and issued a $115.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. OTR Global lowered shares of Ingersoll-Rand to a “positive” rating in a research report on Friday, January 18th. 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 research report on Thursday, December 20th. Finally, Citigroup boosted their price objective on shares of Ingersoll-Rand from $117.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $109.77.

In other news, insider Marcia J. Avedon sold 6,486 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $99.24, for a total transaction of $643,670.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Kuehn sold 6,501 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $99.85, for a total transaction of $649,124.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,394 shares of company stock valued at $16,334,324. Corporate insiders own 0.70% of the company’s stock.

Shares of NYSE IR traded up $0.10 on Monday, reaching $102.02. 414,739 shares of the company traded hands, compared to its average volume of 1,711,981. Ingersoll-Rand PLC has a fifty-two week low of $79.63 and a fifty-two week high of $107.08. 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 $25.04 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.60 and a beta of 1.26.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingersoll-Rand PLC will post 6.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, March 7th. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.

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Ingersoll-Rand Profile

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

Read More: Derivative

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

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