Cetera Advisors LLC reduced its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 30.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,420 shares of the industrial products company’s stock after selling 1,941 shares during the quarter. Cetera Advisors LLC’s holdings in Ingersoll-Rand were worth $403,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Ingersoll-Rand by 155.3% during the third quarter. SG Americas Securities LLC now owns 16,777 shares of the industrial products company’s stock worth $1,716,000 after acquiring an additional 10,206 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Ingersoll-Rand by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after buying an additional 1,085,581 shares during the period. MML Investors Services LLC raised its stake in shares of Ingersoll-Rand by 84.1% in the third quarter. MML Investors Services LLC now owns 6,368 shares of the industrial products company’s stock valued at $651,000 after buying an additional 2,909 shares during the period. Pictet Asset Management Ltd. bought a new stake in shares of Ingersoll-Rand in the third quarter valued at $14,576,000. Finally, FDx Advisors Inc. raised its stake in shares of Ingersoll-Rand by 16.9% in the third quarter. FDx Advisors Inc. now owns 5,489 shares of the industrial products company’s stock valued at $561,000 after buying an additional 795 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
In other news, CAO Christopher J. Kuehn sold 5,195 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $109.90, for a total value of $570,930.50. Following the completion of the transaction, the chief accounting officer now directly owns 25,273 shares in the company, valued at approximately $2,777,502.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marcia J. Avedon sold 6,486 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $99.24, for a total value of $643,670.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242,747 shares of company stock valued at $25,550,072. 0.70% of the stock is owned by company insiders.
Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, research analysts anticipate that Ingersoll-Rand PLC will post 6.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, June 6th. Ingersoll-Rand’s payout ratio is 37.79%.
Several brokerages have issued reports on IR. Zacks Investment Research lowered Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Monday. KeyCorp boosted their target price on Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Bank of America upgraded Ingersoll-Rand from a “neutral” rating to a “buy” rating and boosted their target price for the company from $105.00 to $130.00 in a research note on Thursday, April 4th. Barclays boosted their target price on Ingersoll-Rand from $111.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Co lowered Ingersoll-Rand from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $110.00 to $113.00 in a research note on Monday, March 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $116.20.
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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.
Further Reading: Outstanding Shares
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