Gofen & Glossberg LLC IL lessened its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 26.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,120 shares of the industrial products company’s stock after selling 1,130 shares during the period. Gofen & Glossberg LLC IL’s holdings in Ingersoll-Rand were worth $337,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. bought a new position in shares of Ingersoll-Rand in the fourth quarter worth about $27,000. Ruggie Capital Group bought a new position in shares of Ingersoll-Rand in the fourth quarter worth about $28,000. Legacy Financial Advisors Inc. boosted its stake in shares of 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 period. Capital Financial Planning LLC bought a new position in shares of Ingersoll-Rand in the fourth quarter worth about $32,000. Finally, First Mercantile Trust Co. boosted its stake in shares of Ingersoll-Rand by 67.9% in the fourth quarter. First Mercantile Trust Co. now owns 470 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 190 shares during the period. 81.26% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. KeyCorp increased their price target 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 raised Ingersoll-Rand from a “neutral” rating to a “buy” rating and increased their price target for the company from $105.00 to $130.00 in a research note on Thursday, April 4th. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target for the company in a research note on Wednesday. Credit Suisse Group increased their price target on Ingersoll-Rand from $122.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Barclays increased their price target on Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Ingersoll-Rand has a consensus rating of “Buy” and a consensus target price of $122.75.
IR stock traded up $1.42 during midday trading on Friday, reaching $124.69. 1,388,635 shares of the company traded hands, compared to its average volume of 1,590,879. Ingersoll-Rand PLC has a 52-week low of $85.05 and a 52-week high of $125.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.58 and a quick ratio of 0.94. The company has a market cap of $30.07 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.32.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts expect that Ingersoll-Rand PLC will post 6.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued 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 1.70%. Ingersoll-Rand’s payout ratio is 37.79%.
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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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