Central Bank & Trust Co. trimmed its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 70.9% in the second quarter, HoldingsChannel reports. The firm owned 281 shares of the industrial products company’s stock after selling 683 shares during the period. Central Bank & Trust Co.’s holdings in Ingersoll-Rand were worth $36,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of IR. WP Advisors LLC purchased a new stake in Ingersoll-Rand in the 1st quarter worth approximately $34,000. AdvisorNet Financial Inc grew its stake in Ingersoll-Rand by 92.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 141 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in Ingersoll-Rand in the 1st quarter worth approximately $38,000. Harvest Group Wealth Management LLC purchased a new stake in Ingersoll-Rand in the 1st quarter worth approximately $58,000. Finally, Truvestments Capital LLC purchased a new stake in Ingersoll-Rand in the 1st quarter worth approximately $59,000. 78.46% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE IR traded up $0.08 during trading on Friday, hitting $122.50. 354,463 shares of the company traded hands, compared to its average volume of 1,265,781. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $128.31. The stock has a 50-day moving average of $125.08. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.81 and a beta of 1.26. 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 announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts predict that Ingersoll-Rand PLC will post 6.39 EPS for the current fiscal year.
The business 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.12 annualized dividend and a dividend yield of 1.73%. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.
Several analysts have commented on IR shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Extended Stay America in a research note on Tuesday, July 2nd. KeyCorp reaffirmed a “hold” rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Deutsche Bank cut shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price for the company. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Barclays lifted their target price on shares of Shopify from $155.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Co lowered their price objective on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $124.97.
In related news, insider David S. Regnery sold 7,957 shares of Ingersoll-Rand stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $122.25, for a total transaction of $972,743.25. Following the transaction, the insider now owns 58,735 shares in the company, valued at approximately $7,180,353.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evan M. Turtz sold 3,770 shares of Ingersoll-Rand stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total transaction of $482,560.00. Following the transaction, the insider now owns 15,549 shares in the company, valued at approximately $1,990,272. The disclosure for this sale can be found here. Insiders have sold a total of 158,460 shares of company stock valued at $19,796,928 over the last three months. Corporate insiders own 0.70% of the company’s stock.
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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