Atalanta Sosnoff Capital LLC Decreases Stake in Ingersoll-Rand PLC (NYSE:IR)

Atalanta Sosnoff Capital LLC reduced its stake in Ingersoll-Rand PLC (NYSE:IR) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 78,587 shares of the industrial products company’s stock after selling 5,674 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Ingersoll-Rand were worth $10,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in IR. State Street Corp raised its position in shares of Ingersoll-Rand by 6.8% in the 3rd quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock valued at $1,339,015,000 after purchasing an additional 688,390 shares during the last quarter. Boston Partners raised its position in Ingersoll-Rand by 466.6% during the 3rd quarter. Boston Partners now owns 588,003 shares of the industrial products company’s stock worth $72,459,000 after buying an additional 484,218 shares during the last quarter. First Trust Advisors LP raised its position in Ingersoll-Rand by 420.8% during the 3rd quarter. First Trust Advisors LP now owns 564,465 shares of the industrial products company’s stock worth $69,548,000 after buying an additional 456,072 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Ingersoll-Rand by 169.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 144,887 shares of the industrial products company’s stock worth $17,852,000 after buying an additional 354,900 shares during the last quarter. Finally, Country Trust Bank purchased a new position in Ingersoll-Rand during the 3rd quarter worth approximately $27,531,000. 79.53% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Evan M. Turtz sold 3,887 shares of Ingersoll-Rand stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $135.00, for a total transaction of $524,745.00. Following the completion of the transaction, the senior vice president now directly owns 15,681 shares of the company’s stock, valued at approximately $2,116,935. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael W. Lamach sold 242,347 shares of Ingersoll-Rand stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $135.00, for a total transaction of $32,716,845.00. Following the transaction, the chief executive officer now directly owns 452,129 shares of the company’s stock, valued at $61,037,415. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 282,049 shares of company stock valued at $37,930,655. Insiders own 0.70% of the company’s stock.

A number of equities analysts have issued reports on IR shares. KeyCorp raised their price target on shares of Ingersoll-Rand from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. ValuEngine lowered shares of Ingersoll-Rand from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and reduced their price target for the stock from $137.00 to $135.00 in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Finally, Wolfe Research lowered shares of Ingersoll-Rand from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Ingersoll-Rand has an average rating of “Buy” and a consensus price target of $137.00.

Shares of NYSE:IR traded up $0.65 during trading on Thursday, hitting $132.29. 1,604,400 shares of the stock traded hands, compared to its average volume of 1,215,960. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The company has a market cap of $31.37 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 1.79 and a beta of 1.22. The company has a fifty day moving average price of $132.81 and a two-hundred day moving average price of $125.38. Ingersoll-Rand PLC has a 52-week low of $93.05 and a 52-week high of $138.33.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.08. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a net margin of 8.38% and a return on equity of 21.72%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. On average, equities research analysts predict that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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