Arjuna Capital purchased a new position in shares of Ingersoll-Rand PLC (NYSE:IR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,020 shares of the industrial products company’s stock, valued at approximately $326,000.
Other institutional investors have also recently modified their holdings of the company. Citizens Financial Group Inc RI grew its position in Ingersoll-Rand by 93.1% during the fourth quarter. Citizens Financial Group Inc RI now owns 1,014 shares of the industrial products company’s stock worth $93,000 after buying an additional 489 shares during the period. Valley National Advisers Inc. grew its position in Ingersoll-Rand by 9.7% during the fourth quarter. Valley National Advisers Inc. now owns 8,201 shares of the industrial products company’s stock worth $748,000 after buying an additional 726 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in Ingersoll-Rand during the fourth quarter worth about $46,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Ingersoll-Rand by 5.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,158 shares of the industrial products company’s stock worth $1,528,000 after buying an additional 756 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Ingersoll-Rand by 10.2% in the first quarter. Wells Fargo & Company MN now owns 1,350,417 shares of the industrial products company’s stock valued at $145,778,000 after purchasing an additional 124,916 shares in the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
IR has been the topic of several recent research reports. Bank of America raised shares of Ingersoll-Rand from a “neutral” rating to a “buy” rating and upped their price target for the company from $105.00 to $130.00 in a report on Thursday, April 4th. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Tuesday, April 2nd. Morgan Stanley set a $120.00 price target on shares of Ingersoll-Rand and gave the company a “buy” rating in a report on Tuesday, February 26th. Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a report on Wednesday, May 1st. Finally, ValuEngine raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $123.96.
Ingersoll-Rand stock opened at $124.68 on Friday. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $127.08. The firm has a market capitalization of $29.90 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Ingersoll-Rand PLC will post 6.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is 37.79%.
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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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