Twin Capital Management Inc. Trims Holdings in Ingersoll-Rand PLC (NYSE:IR)

Twin Capital Management Inc. cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 35.2% during the second quarter, Holdings Channel reports. The institutional investor owned 99,680 shares of the industrial products company’s stock after selling 54,190 shares during the quarter. Ingersoll-Rand makes up approximately 0.9% of Twin Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Twin Capital Management Inc.’s holdings in Ingersoll-Rand were worth $12,626,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Community Bank & Trust Waco Texas grew its position in Ingersoll-Rand by 1.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 6,445 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 80 shares during the last quarter. Leavell Investment Management Inc. grew its position in Ingersoll-Rand by 0.5% during the 2nd quarter. Leavell Investment Management Inc. now owns 18,529 shares of the industrial products company’s stock valued at $2,347,000 after purchasing an additional 100 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Ingersoll-Rand by 10.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 101 shares during the last quarter. CAPROCK Group Inc. grew its position in Ingersoll-Rand by 4.7% during the 2nd quarter. CAPROCK Group Inc. now owns 2,382 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 108 shares during the last quarter. Finally, Bellecapital International Ltd. grew its position in Ingersoll-Rand by 5.2% during the 2nd quarter. Bellecapital International Ltd. now owns 2,415 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 120 shares during the last quarter. 77.97% of the stock is currently owned by hedge funds and other institutional investors.

In other Ingersoll-Rand news, Director Jared L. Cohon sold 938 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $119.07, for a total transaction of $111,687.66. Following the sale, the director now owns 23,697 shares in the company, valued at approximately $2,821,601.79. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the sale, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at $44,529,750. The disclosure for this sale can be found here. Insiders sold a total of 151,441 shares of company stock worth $18,935,873 in the last quarter. Company insiders own 0.70% of the company’s stock.

Shares of NYSE:IR traded up $0.23 during trading on Thursday, hitting $116.52. The company’s stock had a trading volume of 25,149 shares, compared to its average volume of 1,378,789. The company has a 50-day simple moving average of $123.55. Ingersoll-Rand PLC has a 12 month low of $85.15 and a 12 month high of $128.31. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a net margin of 8.89% and a return on equity of 20.97%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the business earned $1.85 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that Ingersoll-Rand PLC will post 6.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

Several analysts recently commented on IR shares. Credit Suisse Group increased their price objective on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Morgan Stanley raised their price target on shares of Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Cowen reaffirmed a “buy” rating and set a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, July 30th. Finally, BMO Capital Markets raised their price target on shares of Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Ingersoll-Rand presently has a consensus rating of “Buy” and an average price target of $128.70.

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

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