Wesbanco Bank Inc. lessened its stake in Ingersoll-Rand PLC (NYSE:IR) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund 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 SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bailard Inc. lifted its stake in Ingersoll-Rand by 13.4% during the fourth quarter. Bailard Inc. now owns 12,238 shares of the industrial products company’s stock worth $1,116,000 after purchasing an additional 1,448 shares during the last quarter. Howe & Rusling Inc. lifted its stake in Ingersoll-Rand by 17.1% during the fourth quarter. Howe & Rusling Inc. now owns 1,093 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 160 shares during the last quarter. Horan Capital Advisors LLC. lifted its stake in Ingersoll-Rand by 0.5% during the fourth quarter. Horan Capital Advisors LLC. now owns 28,004 shares of the industrial products company’s stock worth $2,555,000 after purchasing an additional 152 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in Ingersoll-Rand by 57.0% during the fourth quarter. IndexIQ Advisors LLC now owns 81,904 shares of the industrial products company’s stock worth $7,472,000 after purchasing an additional 29,743 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Ingersoll-Rand by 1.6% during the fourth quarter. M&T Bank Corp now owns 103,542 shares of the industrial products company’s stock worth $9,446,000 after purchasing an additional 1,646 shares during the last quarter. Hedge funds and other institutional investors own 80.59% of the company’s stock.
Several equities analysts recently issued reports on IR shares. ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Zacks Investment Research lowered Ingersoll-Rand from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Cowen reaffirmed a “buy” rating and issued a $115.00 target price on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $115.00 target price (up from $108.00) on shares of Ingersoll-Rand in a research report on Thursday, January 31st. Finally, OTR Global lowered Ingersoll-Rand to a “positive” rating in a research report on Friday, January 18th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Ingersoll-Rand has an average rating of “Buy” and an average target price of $109.77.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that Ingersoll-Rand PLC will post 6.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued 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 of this dividend is Thursday, March 7th. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
In other news, VP Christopher J. Kuehn sold 6,501 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $99.85, for a total transaction of $649,124.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael W. Lamach sold 166,407 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $90.39, for a total value of $15,041,528.73. Following the transaction, the chief executive officer now directly owns 417,275 shares in the company, valued at $37,717,487.25. The disclosure for this sale can be found here. Insiders have sold 179,394 shares of company stock worth $16,334,324 over the last three months. Corporate insiders own 0.70% of the company’s stock.
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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.
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