Brandywine Global Investment Management LLC boosted its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,143 shares of the industrial products company’s stock after acquiring an additional 9,470 shares during the quarter. Brandywine Global Investment Management LLC owned 0.09% of Ingersoll-Rand worth $19,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Calton & Associates Inc. purchased a new position in shares of Ingersoll-Rand in the 4th quarter valued at approximately $112,000. Resources Investment Advisors Inc. lifted its stake in shares of Ingersoll-Rand by 218.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 929 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of Ingersoll-Rand in the 3rd quarter valued at approximately $152,000. Advisory Services Network LLC lifted its stake in shares of Ingersoll-Rand by 61.3% in the 4th quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 680 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Ingersoll-Rand by 185.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 1,278 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.
In other news, Director Jared L. Cohon sold 2,350 shares of Ingersoll-Rand stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.40, for a total value of $217,140.00. Following the sale, the director now directly owns 25,766 shares of the company’s stock, valued at $2,380,778.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael W. Lamach sold 210,508 shares of Ingersoll-Rand stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total value of $18,583,646.24. The disclosure for this sale can be found here. Insiders sold 280,380 shares of company stock worth $24,889,306 over the last 90 days. Company insiders own 0.63% of the company’s stock.
NYSE IR traded down $2.36 on Monday, hitting $83.15. 1,516,685 shares of the company traded hands, compared to its average volume of 1,864,193. The company has a market capitalization of $21,368.04, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.57 and a beta of 1.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 1.27. Ingersoll-Rand PLC has a 52-week low of $80.48 and a 52-week high of $97.67.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a net margin of 9.17% and a return on equity of 16.91%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Ingersoll-Rand’s revenue was up 7.7% on a year-over-year basis. sell-side analysts forecast that Ingersoll-Rand PLC will post 5.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 9th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Ingersoll-Rand’s payout ratio is 39.91%.
A number of research analysts recently weighed in on IR shares. BMO Capital Markets raised their price objective on Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $106.00 price objective on shares of Ingersoll-Rand in a research report on Friday, February 16th. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Monday, January 22nd. Barclays initiated coverage on Ingersoll-Rand in a research report on Thursday, February 15th. They set an “overweight” rating and a $111.00 price objective for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $99.00 target price on shares of Ingersoll-Rand in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $103.69.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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