Crossmark Global Holdings Inc. cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,940 shares of the industrial products company’s stock after selling 420 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ingersoll-Rand were worth $2,703,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. QCI Asset Management Inc. NY bought a new position in Ingersoll-Rand in the 2nd quarter valued at approximately $26,000. Arrow Financial Corp lifted its position in Ingersoll-Rand by 232.6% in the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. AdvisorNet Financial Inc lifted its position in Ingersoll-Rand by 92.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 141 shares in the last quarter. Berman Capital Advisors LLC lifted its position in Ingersoll-Rand by 93.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 153 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new position in Ingersoll-Rand in the 3rd quarter valued at approximately $48,000. 78.18% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the sale, the insider now directly owns 15,549 shares in the company, valued at approximately $1,990,272. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jared L. Cohon sold 938 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the completion of the sale, the director now owns 23,697 shares of the company’s stock, valued at $2,821,601.79. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. Ingersoll-Rand’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 EPS. Equities research analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.53 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.12 annualized dividend and a dividend yield of 1.84%. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
Several equities analysts have recently weighed in on IR shares. Cowen reissued a “buy” rating and set a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price target on Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday. Stephens cut Ingersoll-Rand from an “overweight” rating to an “equal” rating in a report on Monday, October 7th. ValuEngine cut Ingersoll-Rand from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group cut Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $129.56.
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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