Brasada Capital Management LP Cuts Holdings in Ingersoll-Rand PLC (IR)

Brasada Capital Management LP lessened its position in Ingersoll-Rand PLC (NYSE:IR) by 55.6% in the first quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the industrial products company’s stock after selling 5,000 shares during the period. Brasada Capital Management LP’s holdings in Ingersoll-Rand were worth $432,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IR. MorganRosel Wealth Management LLC increased its position in Ingersoll-Rand by 1.3% during the first quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock worth $773,000 after purchasing an additional 91 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in Ingersoll-Rand by 10.0% during the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 101 shares during the last quarter. Cetera Advisor Networks LLC increased its position in Ingersoll-Rand by 0.5% during the first quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 124 shares during the last quarter. Bank OZK increased its position in Ingersoll-Rand by 2.8% during the fourth quarter. Bank OZK now owns 5,041 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 135 shares during the last quarter. Finally, Sigma Planning Corp increased its position in Ingersoll-Rand by 2.0% during the fourth quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 136 shares during the last quarter. 81.51% of the stock is owned by institutional investors and hedge funds.

IR has been the subject of several research reports. Morgan Stanley set a $120.00 price objective on shares of Ingersoll-Rand and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Tuesday, April 2nd. Cowen reiterated a “buy” rating and set a $115.00 price objective on shares of Ingersoll-Rand in a research note on Wednesday, January 23rd. Bank of America upgraded shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $130.00 in a research note on Thursday, April 4th. Finally, ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Ingersoll-Rand has a consensus rating of “Buy” and a consensus price target of $123.96.

Shares of IR stock opened at $120.79 on Wednesday. The firm has a market capitalization of $29.04 billion, a PE ratio of 21.53, a PEG ratio of 1.77 and a beta of 1.32. The company has a quick ratio of 1.14, a current ratio of 1.58 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 announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.09. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, research analysts predict that Ingersoll-Rand PLC will post 6.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 annualized dividend and a dividend yield of 1.76%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

In related news, insider Paul A. Camuti sold 7,034 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $104.95, for a total value of $738,218.30. Following the sale, the insider now directly owns 51,497 shares of the company’s stock, valued at $5,404,610.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher J. Kuehn sold 5,195 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $109.90, for a total transaction of $570,930.50. Following the completion of the sale, the chief accounting officer now directly owns 25,273 shares in the company, valued at $2,777,502.70. The disclosure for this sale can be found here. Insiders sold 218,760 shares of company stock valued at $23,276,480 over the last 90 days. Insiders own 0.70% of the company’s stock.

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Ingersoll-Rand 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.

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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)

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