Ingersoll-Rand PLC (IR) Stake Lessened by Creative Planning

Creative Planning cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,606 shares of the industrial products company’s stock after selling 186 shares during the period. Creative Planning’s holdings in Ingersoll-Rand were worth $1,901,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ingersoll-Rand by 5.0% during the 4th quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock worth $1,716,550,000 after purchasing an additional 901,225 shares during the last quarter. Vanguard Group Inc raised its position in shares of Ingersoll-Rand by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock worth $1,753,427,000 after purchasing an additional 43,240 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ingersoll-Rand by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock worth $528,432,000 after purchasing an additional 1,085,581 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ingersoll-Rand by 3.9% during the 4th quarter. Bank of America Corp DE now owns 3,980,294 shares of the industrial products company’s stock worth $363,122,000 after purchasing an additional 149,485 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ingersoll-Rand during the 4th quarter worth approximately $360,951,000. Institutional investors own 81.51% of the company’s stock.

Shares of IR stock traded down $1.26 on Wednesday, reaching $122.29. 953,545 shares of the stock were exchanged, compared to its average volume of 1,492,592. The company has a market cap of $29.63 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.77 and a beta of 1.32. 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 PLC has a 1-year low of $85.15 and a 1-year high of $125.26.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts expect that Ingersoll-Rand PLC will post 6.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a yield of 1.73%. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.

IR has been the subject of several research reports. Cowen restated a “buy” rating and set a $115.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Zacks Investment Research upgraded Ingersoll-Rand from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Credit Suisse Group restated an “outperform” rating and set a $115.00 price objective (up from $108.00) on shares of Ingersoll-Rand in a research report on Thursday, January 31st. Morgan Stanley set a $120.00 price target on Ingersoll-Rand and gave the company a “buy” rating in a report on Tuesday, February 26th. Finally, Deutsche Bank initiated coverage on Ingersoll-Rand in a report on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price target for the company. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $123.96.

In other Ingersoll-Rand news, CAO Christopher J. Kuehn sold 5,195 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $109.90, for a total value of $570,930.50. Following the completion of the transaction, the chief accounting officer now directly owns 25,273 shares of the company’s stock, valued at approximately $2,777,502.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marcia J. Avedon sold 13,268 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.75, for a total transaction of $1,403,091.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,726 shares of company stock valued at $22,538,262. 0.70% of the stock is owned by corporate insiders.

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

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