Keybank National Association OH Cuts Stake in Ingersoll-Rand PLC (NYSE:IR)

Keybank National Association OH reduced its stake in Ingersoll-Rand PLC (NYSE:IR) by 2.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 21,508 shares of the industrial products company’s stock after selling 583 shares during the period. Keybank National Association OH’s holdings in Ingersoll-Rand were worth $2,650,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Ingersoll-Rand by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,825,020 shares of the industrial products company’s stock worth $2,257,896,000 after buying an additional 146,948 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Ingersoll-Rand by 19,817.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,759,489 shares of the industrial products company’s stock worth $729,554,000 after buying an additional 5,730,572 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Ingersoll-Rand by 23.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,611,762 shares of the industrial products company’s stock worth $573,471,000 after buying an additional 873,152 shares during the last quarter. Bank of America Corp DE lifted its holdings in Ingersoll-Rand by 7.5% during the second quarter. Bank of America Corp DE now owns 4,346,669 shares of the industrial products company’s stock valued at $550,592,000 after purchasing an additional 301,918 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Ingersoll-Rand by 13.9% during the second quarter. Bank of New York Mellon Corp now owns 4,068,789 shares of the industrial products company’s stock valued at $515,394,000 after purchasing an additional 497,567 shares during the last quarter. 78.14% of the stock is currently owned by institutional investors.

Shares of IR traded up $1.34 during midday trading on Friday, hitting $130.44. 1,010,596 shares of the company traded hands, compared to its average volume of 1,386,982. The stock has a 50-day moving average of $121.39 and a 200-day moving average of $121.67. Ingersoll-Rand PLC has a one year low of $85.15 and a one year high of $132.42. The firm has a market cap of $31.33 billion, a P/E ratio of 23.25, a PEG ratio of 1.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.88.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.

Several equities research analysts have commented on IR shares. KeyCorp upped their price objective on shares of Ingersoll-Rand from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stephens downgraded shares of Ingersoll-Rand from an “overweight” rating to an “equal” rating in a report on Monday, October 7th. Credit Suisse Group upped their price objective on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley upped their price objective on shares of Ingersoll-Rand from $139.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $134.15.

In other news, SVP Marcia J. Avedon sold 7,450 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $129.00, for a total transaction of $961,050.00. Following the sale, the senior vice president now directly owns 99,075 shares in the company, valued at $12,780,675. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Keith A. Sultana sold 7,010 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total value of $876,250.00. Following the sale, the senior vice president now owns 19,608 shares in the company, valued at $2,451,000. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Ingersoll-Rand Profile

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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