Janney Montgomery Scott LLC grew its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,696 shares of the industrial products company’s stock after purchasing an additional 518 shares during the period. Janney Montgomery Scott LLC’s holdings in Ingersoll-Rand were worth $5,149,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Ingersoll-Rand in the fourth quarter worth about $360,951,000. Oregon Public Employees Retirement Fund raised its stake in shares of Ingersoll-Rand by 8,911.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 2,413,413 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ingersoll-Rand by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after acquiring an additional 1,085,581 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Ingersoll-Rand during the third quarter valued at approximately $100,178,000. Finally, BlackRock Inc. raised its stake in shares of Ingersoll-Rand by 5.0% during the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock valued at $1,716,550,000 after acquiring an additional 901,225 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.
In other news, CAO Christopher J. Kuehn sold 5,195 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer now 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 10,205 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $105.95, for a total transaction of $1,081,219.75. The disclosure for this sale can be found here. In 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.
Shares of IR traded down $0.33 during mid-day trading on Wednesday, hitting $118.27. 1,123,953 shares of the company were exchanged, compared to its average volume of 1,492,836. Ingersoll-Rand PLC has a 1-year low of $85.15 and a 1-year high of $125.26. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a market cap of $28.98 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.32.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share 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 firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Ingersoll-Rand PLC will post 6.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.12 annualized dividend and a yield of 1.79%. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.
Several brokerages recently issued reports on IR. Zacks Investment Research lowered shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Monday, May 6th. BMO Capital Markets lifted their price target on shares of Ingersoll-Rand from $112.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Co lifted their price target on shares of Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. 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, KeyCorp boosted their price objective on shares of Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $123.96.
TRADEMARK VIOLATION NOTICE: “Janney Montgomery Scott LLC Purchases 518 Shares of Ingersoll-Rand PLC (NYSE:IR)” was originally posted by Sundance Herald and is owned by of Sundance Herald. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://sundanceherald.com/2019/05/29/janney-montgomery-scott-llc-has-5-15-million-position-in-ingersoll-rand-plc-ir.html.
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.
Featured Story: Moving Average (MA)
Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.