Resources Management Corp CT ADV purchased a new stake in Ingersoll-Rand PLC (NYSE:IR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,640 shares of the industrial products company’s stock, valued at approximately $1,681,000.
A number of other institutional investors and hedge funds have also made changes to their positions in IR. Voloridge Investment Management LLC boosted its stake in Ingersoll-Rand by 1,038.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 104,262 shares of the industrial products company’s stock worth $12,846,000 after purchasing an additional 95,103 shares during the period. IHT Wealth Management LLC acquired a new position in Ingersoll-Rand in the third quarter valued at $215,000. Wealthsource Partners LLC raised its holdings in shares of Ingersoll-Rand by 173.9% in the third quarter. Wealthsource Partners LLC now owns 4,824 shares of the industrial products company’s stock valued at $594,000 after buying an additional 3,063 shares during the last quarter. Colonial Trust Advisors raised its holdings in shares of Ingersoll-Rand by 1.1% in the third quarter. Colonial Trust Advisors now owns 52,722 shares of the industrial products company’s stock valued at $6,496,000 after buying an additional 587 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in shares of Ingersoll-Rand by 5.4% during the third quarter. KCM Investment Advisors LLC now owns 17,078 shares of the industrial products company’s stock worth $2,104,000 after buying an additional 875 shares during the period. 78.92% of the stock is owned by hedge funds and other institutional investors.
NYSE:IR traded up $0.49 during mid-day trading on Wednesday, reaching $128.58. The stock had a trading volume of 1,128,118 shares, compared to its average volume of 1,377,205. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.91 and a beta of 1.22. Ingersoll-Rand PLC has a twelve month low of $85.15 and a twelve month high of $132.42. The business has a 50 day simple moving average of $126.33 and a 200 day simple moving average of $122.97.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a dividend yield of 1.65%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.
In other news, SVP Marcia J. Avedon sold 7,450 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 99,075 shares in the company, valued at approximately $12,780,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 7,010 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $876,250.00. Following the completion of the transaction, the senior vice president now owns 19,608 shares of the company’s stock, valued at approximately $2,451,000. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.
A number of equities analysts recently issued reports on IR shares. 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, October 10th. Zacks Investment Research cut Ingersoll-Rand from a “hold” rating to a “sell” rating and set a $138.00 price objective for the company. in a research report on Monday. Barclays reiterated a “buy” rating and issued a $134.00 target price on shares of Ingersoll-Rand in a research note on Friday, October 4th. Cowen reissued a “buy” rating and issued a $131.00 target price on shares of Ingersoll-Rand in a report on Tuesday, October 29th. Finally, ValuEngine upgraded Ingersoll-Rand from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $135.25.
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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