Liberty Wealth Management LLC bought a new stake in Ingersoll-Rand PLC (NYSE:IR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 967 shares of the industrial products company’s stock, valued at approximately $88,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank OZK boosted its stake in shares of Ingersoll-Rand by 2.8% in the fourth quarter. Bank OZK now owns 5,041 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 135 shares during the period. Sigma Planning Corp lifted its stake in Ingersoll-Rand by 2.0% in the fourth quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 136 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake in Ingersoll-Rand by 78.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares during the last quarter. Csenge Advisory Group lifted its stake in Ingersoll-Rand by 3.2% in the fourth quarter. Csenge Advisory Group now owns 4,711 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 148 shares during the last quarter. Finally, Horan Capital Advisors LLC. lifted its stake in Ingersoll-Rand by 0.5% in the fourth quarter. Horan Capital Advisors LLC. now owns 28,004 shares of the industrial products company’s stock worth $2,555,000 after acquiring an additional 152 shares during the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.
IR has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. KeyCorp boosted their price objective on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Bank of America upgraded shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $130.00 in a research report on Thursday, April 4th. Barclays lifted their target price on shares of Ingersoll-Rand from $111.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley set a $120.00 target price on shares of Ingersoll-Rand and gave the company a “buy” rating in a report on Tuesday, February 26th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Ingersoll-Rand presently has a consensus rating of “Buy” and a consensus price target of $116.20.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, January 30th. The industrial products company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that Ingersoll-Rand PLC will post 6.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.12 annualized dividend and a dividend yield of 1.87%. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.
In other news, insider Marcia J. Avedon sold 6,486 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $99.24, for a total transaction of $643,670.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael W. Lamach sold 105,064 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.74, for a total transaction of $11,109,467.36. The disclosure for this sale can be found here. Insiders sold a total of 242,747 shares of company stock worth $25,550,072 over the last quarter. Insiders own 0.70% of the company’s stock.
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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.
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