Boston Advisors LLC purchased a new position in shares of Ingersoll-Rand PLC (NYSE:IR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,188 shares of the industrial products company’s stock, valued at approximately $236,000.
Several other hedge funds also recently bought and sold shares of IR. Resources Investment Advisors Inc. bought a new position in Ingersoll-Rand in the 4th quarter worth about $27,000. Ruggie Capital Group bought a new position in Ingersoll-Rand in the 4th quarter worth about $28,000. Legacy Financial Advisors Inc. increased its stake in Ingersoll-Rand by 78.3% in the 4th 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. WP Advisors LLC bought a new position in Ingersoll-Rand in the 1st quarter worth about $34,000. Finally, Financial Gravity Wealth Inc. bought a new position in Ingersoll-Rand in the 1st quarter worth about $38,000. Institutional investors and hedge funds own 81.51% of the company’s stock.
In other Ingersoll-Rand news, CAO Christopher J. Kuehn sold 5,195 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $109.90, for a total value of $570,930.50. Following the completion of the sale, the chief accounting officer now owns 25,273 shares in the company, valued at approximately $2,777,502.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marcia J. Avedon sold 10,205 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $105.95, for a total value of $1,081,219.75. The disclosure for this sale can be found here. Insiders have sold a total of 211,726 shares of company stock valued at $22,538,262 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
IR stock traded down $1.26 during trading on Wednesday, hitting $122.29. 953,545 shares of the company traded hands, compared to its average volume of 1,492,592. The stock has a market capitalization of $29.63 billion, a PE ratio of 21.80, a P/E/G ratio of 1.77 and a beta of 1.32. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year 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 1.14.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.09. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. Ingersoll-Rand’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. Analysts anticipate that Ingersoll-Rand PLC will post 6.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, June 6th. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.
IR has been the topic of a number of research analyst reports. Wells Fargo & Co lowered Ingersoll-Rand from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $110.00 to $113.00 in a research note on Monday, March 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded Ingersoll-Rand from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Cowen reiterated a “buy” rating and set a $115.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Deutsche Bank assumed coverage on Ingersoll-Rand in a research report on Wednesday, March 13th. They set a “hold” rating and a $107.00 price objective on the stock. Finally, Morgan Stanley set a $120.00 price objective on Ingersoll-Rand and gave the company a “buy” rating in a research report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.96.
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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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