Teacher Retirement System of Texas trimmed its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 12.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 293,824 shares of the industrial products company’s stock after selling 43,694 shares during the period. Teacher Retirement System of Texas’ holdings in Ingersoll-Rand were worth $31,718,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in IR. MorganRosel Wealth Management LLC raised its stake in Ingersoll-Rand by 1.3% during the 1st quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock valued at $773,000 after acquiring an additional 91 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Ingersoll-Rand by 10.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 101 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Ingersoll-Rand by 0.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock valued at $2,884,000 after purchasing an additional 124 shares during the period. Bank OZK increased its position in shares of Ingersoll-Rand by 2.8% during the 4th quarter. Bank OZK now owns 5,041 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 135 shares during the period. Finally, Sigma Planning Corp increased its position in shares of Ingersoll-Rand by 2.0% during the 4th quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 136 shares during the period. 81.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. BMO Capital Markets lifted their price target on Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Wells Fargo & Co lifted their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Deutsche Bank upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a research report on Wednesday, May 1st. Finally, KeyCorp lifted their price target on Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.96.
Shares of NYSE IR opened at $121.22 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.14 and a current ratio of 1.58. The firm has a market capitalization of $29.04 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.77 and a beta of 1.32. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $125.26.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.09. The business 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. As a group, research analysts expect that Ingersoll-Rand PLC will post 6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, June 6th. Ingersoll-Rand’s payout ratio is 37.79%.
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.
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