Landsberg Bennett & Dubbaneh LLC cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 25.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,890 shares of the industrial products company’s stock after selling 3,968 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Ingersoll-Rand were worth $1,518,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of IR. Dimensional Fund Advisors LP increased its stake in Ingersoll-Rand by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,435,070 shares of the industrial products company’s stock worth $222,163,000 after acquiring an additional 202,534 shares during the period. Geode Capital Management LLC increased its stake in Ingersoll-Rand by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,277,339 shares of the industrial products company’s stock worth $298,484,000 after acquiring an additional 300,549 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Ingersoll-Rand during the 4th quarter worth $598,000. First Allied Advisory Services Inc. increased its stake in Ingersoll-Rand by 13.3% during the 4th quarter. First Allied Advisory Services Inc. now owns 6,079 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 712 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Ingersoll-Rand by 22.7% during the 4th quarter. Macquarie Group Ltd. now owns 255,127 shares of the industrial products company’s stock worth $23,275,000 after acquiring an additional 47,212 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.
A number of equities analysts have commented on the company. Wells Fargo & Co lowered their price objective on WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. KeyCorp restated a “hold” rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Zacks Investment Research lowered Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Barclays raised their target price on Shopify from $155.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Finally, Bank of America set a $152.00 target price on Caterpillar and gave the company a “buy” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $124.97.
Shares of IR stock traded up $0.16 during trading hours on Friday, reaching $122.58. The company’s stock had a trading volume of 1,166,811 shares, compared to its average volume of 1,265,781. The company’s 50 day moving average is $125.08. The firm has a market capitalization of $29.52 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. Ingersoll-Rand PLC has a fifty-two week low of $85.15 and a fifty-two week 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 issued its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Ingersoll-Rand PLC will post 6.39 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
In related news, insider Evan M. Turtz sold 3,770 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the sale, the insider now owns 15,549 shares of the company’s stock, valued at approximately $1,990,272. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael W. Lamach sold 146,733 shares of the firm’s 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 sale, the chief executive officer now directly owns 356,238 shares in the company, valued at approximately $44,529,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,460 shares of company stock worth $19,796,928. 0.70% of the stock is currently owned by company insiders.
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.
Read More: Percentage Gainers
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.