Trillium Asset Management LLC lifted its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,119 shares of the industrial products company’s stock after acquiring an additional 2,830 shares during the period. Ingersoll-Rand comprises approximately 1.4% of Trillium Asset Management LLC’s holdings, making the stock its 13th largest holding. Trillium Asset Management LLC’s holdings in Ingersoll-Rand were worth $29,462,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in Ingersoll-Rand by 19,817.3% during 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. UBS Asset Management Americas Inc. grew its stake in Ingersoll-Rand by 154.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,848,266 shares of the industrial products company’s stock worth $360,790,000 after buying an additional 1,727,526 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ingersoll-Rand by 23.4% during 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. Suvretta Capital Management LLC bought a new position in Ingersoll-Rand during the 2nd quarter worth $96,016,000. Finally, AQR Capital Management LLC grew its stake in Ingersoll-Rand by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,176,359 shares of the industrial products company’s stock worth $146,798,000 after buying an additional 580,326 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on IR shares. Morgan Stanley upped their price objective on Ingersoll-Rand from $139.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays reissued a “buy” rating and issued a $134.00 price target on shares of Ingersoll-Rand in a research note on Friday, October 4th. Credit Suisse Group increased their price target on Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets set a $145.00 price target on Ingersoll-Rand and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, ValuEngine raised Ingersoll-Rand from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Ingersoll-Rand has a consensus rating of “Buy” and a consensus price target of $134.15.
Shares of Ingersoll-Rand stock traded down $1.73 during trading on Wednesday, hitting $127.82. The stock had a trading volume of 1,362,170 shares, compared to its average volume of 1,382,781. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.88. The firm has a market cap of $31.15 billion, a P/E ratio of 22.78, a PEG ratio of 1.90 and a beta of 1.22. The business has a fifty day moving average of $121.89 and a two-hundred day moving average of $122.00. Ingersoll-Rand PLC has a fifty-two week low of $85.15 and a fifty-two week high of $132.42.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data 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. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, research analysts forecast that Ingersoll-Rand PLC will post 6.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio is 37.79%.
In related news, SVP Marcia J. Avedon sold 7,450 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $129.00, for a total value of $961,050.00. Following the completion of the sale, the senior vice president now directly owns 99,075 shares of the company’s stock, valued at approximately $12,780,675. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Keith A. Sultana sold 7,010 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $876,250.00. Following the completion of the sale, the senior vice president now directly owns 19,608 shares of the company’s stock, valued at $2,451,000. The disclosure for this sale can be found here. Corporate insiders own 0.71% 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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