River Wealth Advisors LLC lessened its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,466 shares of the industrial products company’s stock after selling 110 shares during the period. Ingersoll-Rand comprises approximately 1.1% of River Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. River Wealth Advisors LLC’s holdings in Ingersoll-Rand were worth $2,846,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Community Bank & Trust Waco Texas raised its stake in Ingersoll-Rand by 1.3% in the second quarter. Community Bank & Trust Waco Texas now owns 6,445 shares of the industrial products company’s stock worth $816,000 after buying an additional 80 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Ingersoll-Rand by 0.5% in the second quarter. Leavell Investment Management Inc. now owns 18,529 shares of the industrial products company’s stock worth $2,347,000 after buying an additional 100 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Ingersoll-Rand by 10.0% in the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock worth $119,000 after buying an additional 101 shares in the last quarter. CAPROCK Group Inc. raised its stake in Ingersoll-Rand by 4.7% in the second quarter. CAPROCK Group Inc. now owns 2,382 shares of the industrial products company’s stock worth $302,000 after buying an additional 108 shares in the last quarter. Finally, Bellecapital International Ltd. raised its stake in Ingersoll-Rand by 5.2% in the second quarter. Bellecapital International Ltd. now owns 2,415 shares of the industrial products company’s stock worth $306,000 after buying an additional 120 shares in the last quarter. 78.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on IR shares. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Credit Suisse Group lifted their price target on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Cowen reaffirmed a “buy” rating and issued a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, July 30th. ValuEngine lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $128.70.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. On average, analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th 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 1.78%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
In other news, CEO Michael W. Lamach sold 146,733 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the sale, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at $44,529,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jared L. Cohon sold 938 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $119.07, for a total transaction of $111,687.66. Following the sale, the director now directly owns 23,697 shares in the company, valued at $2,821,601.79. The disclosure for this sale can be found here. Insiders have sold 151,441 shares of company stock worth $18,935,873 over the last three months. Corporate insiders own 0.70% of the company’s stock.
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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