Public Employees Retirement Association of Colorado lowered its stake in Ingersoll-Rand PLC (NYSE:IR) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,154 shares of the industrial products company’s stock after selling 157 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Ingersoll-Rand were worth $5,563,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. QCI Asset Management Inc. NY bought a new stake in shares of Ingersoll-Rand in the 2nd quarter valued at approximately $26,000. Arrow Financial Corp raised its position in Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. AdvisorNet Financial Inc raised its position in Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares in the last quarter. Berman Capital Advisors LLC raised its position in Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new stake in Ingersoll-Rand during the 3rd quarter valued at $48,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the company. Cowen reiterated a “buy” rating and issued a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, October 29th. BMO Capital Markets set a $145.00 price target on Ingersoll-Rand and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley lifted their price target on Ingersoll-Rand from $139.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank cut Ingersoll-Rand from a “buy” rating to a “hold” rating and decreased their price target for the stock from $137.00 to $135.00 in a research note on Tuesday, October 29th. They noted that the move was a valuation call. Finally, KeyCorp upped their price target on Ingersoll-Rand from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $134.15.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. On average, research analysts forecast 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 Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.
In other news, SVP Keith A. Sultana sold 7,010 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $876,250.00. Following the sale, the senior vice president now directly owns 19,608 shares in the company, valued at $2,451,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marcia J. Avedon sold 7,450 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $129.00, for a total value of $961,050.00. Following the completion of the sale, the senior vice president now owns 99,075 shares in the company, valued at $12,780,675. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.
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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