Nippon Life Global Investors Americas Inc. Increases Position in Ingersoll-Rand PLC (NYSE:IR)

Nippon Life Global Investors Americas Inc. raised its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,810 shares of the industrial products company’s stock after buying an additional 8,460 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Ingersoll-Rand were worth $14,543,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IR. WP Advisors LLC purchased a new stake in shares of Ingersoll-Rand in the first quarter valued at approximately $34,000. AdvisorNet Financial Inc boosted its holdings in shares of Ingersoll-Rand by 92.2% in the second quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in shares of Ingersoll-Rand in the first quarter valued at approximately $38,000. Harvest Group Wealth Management LLC purchased a new stake in shares of Ingersoll-Rand in the first quarter valued at approximately $58,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Ingersoll-Rand in the first quarter valued at approximately $59,000. Institutional investors and hedge funds own 78.43% of the company’s stock.

In related news, CEO Michael W. Lamach sold 146,733 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the transaction, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Evan M. Turtz sold 3,770 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now directly owns 15,549 shares in the company, valued at $1,990,272. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Shares of NYSE IR traded down $1.39 during mid-day trading on Friday, hitting $120.34. The stock had a trading volume of 3,584 shares, compared to its average volume of 1,286,908. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.14 and a current ratio of 1.23. The stock’s 50 day moving average price is $124.89. Ingersoll-Rand PLC has a twelve month low of $85.15 and a twelve month high of $128.31. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.86 and a beta of 1.26.

Ingersoll-Rand (NYSE:IR) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.32% and a net margin of 8.89%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the firm earned $1.85 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Ingersoll-Rand PLC will post 6.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is 37.79%.

IR has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Tuesday, July 2nd. Wells Fargo & Co boosted their price objective on shares of Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. BMO Capital Markets boosted their price objective on shares of Ingersoll-Rand from $112.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Barclays upped their price target on Ingersoll-Rand from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Ingersoll-Rand currently has an average rating of “Buy” and an average price target of $128.70.

Ingersoll-Rand 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.

See Also: Diversification in Investing

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

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