Ferguson Wellman Capital Management Inc. Trims Holdings in Ingersoll-Rand PLC (NYSE:IR)

Ferguson Wellman Capital Management Inc. cut its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,472 shares of the industrial products company’s stock after selling 267 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Ingersoll-Rand were worth $1,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its stake in Ingersoll-Rand by 9.7% in the fourth quarter. Valley National Advisers Inc. now owns 8,201 shares of the industrial products company’s stock valued at $748,000 after buying an additional 726 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Ingersoll-Rand by 10.2% in the first quarter. Wells Fargo & Company MN now owns 1,350,417 shares of the industrial products company’s stock valued at $145,778,000 after buying an additional 124,916 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Ingersoll-Rand by 5.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,158 shares of the industrial products company’s stock valued at $1,528,000 after buying an additional 756 shares during the last quarter. Cerebellum GP LLC lifted its stake in Ingersoll-Rand by 7.1% in the first quarter. Cerebellum GP LLC now owns 3,086 shares of the industrial products company’s stock valued at $333,000 after buying an additional 204 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Ingersoll-Rand in the first quarter valued at $1,599,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

NYSE:IR traded up $0.08 during mid-day trading on Friday, reaching $122.50. 354,463 shares of the stock were exchanged, compared to its average volume of 1,265,781. The business’s fifty day moving average price is $125.08. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.81 and a beta of 1.26. Ingersoll-Rand PLC has a 1-year low of $85.15 and a 1-year high of $128.31. 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 (NYSE:IR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. Ingersoll-Rand’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. As a group, research analysts expect that Ingersoll-Rand PLC will post 6.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.

In related news, insider Evan M. Turtz sold 3,770 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now owns 15,549 shares in the company, valued at approximately $1,990,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the transaction, the chief executive officer now owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,460 shares of company stock worth $19,796,928. 0.70% of the stock is owned by corporate insiders.

IR has been the topic of a number of research analyst reports. Zacks Investment Research lowered Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Barclays raised their price target on Shopify from $155.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Credit Suisse Group reissued an “outperform” rating and set a GBX 2,012 ($26.29) price target on shares of Aston Martin Lagonda Global in a report on Wednesday, May 1st. Jefferies Financial Group reissued a “buy” rating on shares of Extended Stay America in a report on Tuesday, July 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Clearwater Paper in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $124.97.

About Ingersoll-Rand

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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