Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,524,841 shares of the industrial products company’s stock after selling 85,421 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.37% of Ingersoll-Rand worth $42,879,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Kohlberg Kravis Roberts & Co. L.P. bought a new position in Ingersoll-Rand during the first quarter valued at approximately $1,752,644,000. Wellington Management Group LLP boosted its stake in Ingersoll-Rand by 208.4% during the first quarter. Wellington Management Group LLP now owns 22,891,752 shares of the industrial products company’s stock valued at $567,715,000 after buying an additional 15,469,364 shares during the last quarter. BlackRock Inc. raised its position in Ingersoll-Rand by 33.4% during the first quarter. BlackRock Inc. now owns 22,654,377 shares of the industrial products company’s stock valued at $561,827,000 after purchasing an additional 5,675,371 shares during the period. State Street Corp raised its position in Ingersoll-Rand by 21.4% during the first quarter. State Street Corp now owns 13,209,832 shares of the industrial products company’s stock valued at $327,604,000 after purchasing an additional 2,328,439 shares during the period. Finally, Viking Global Investors LP purchased a new stake in Ingersoll-Rand during the first quarter valued at approximately $297,903,000. 94.77% of the stock is owned by institutional investors.
IR opened at $31.59 on Friday. The stock’s fifty day moving average is $29.64 and its two-hundred day moving average is $56.87. The company has a market capitalization of $13.16 billion, a P/E ratio of 78.97, a PEG ratio of 49.80 and a beta of 1.45. Ingersoll-Rand PLC has a 52 week low of $17.01 and a 52 week high of $38.96. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.39.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, May 12th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Ingersoll-Rand had a return on equity of 2.12% and a net margin of 2.86%. The company’s revenue for the quarter was down 63.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities analysts anticipate that Ingersoll-Rand PLC will post 0.08 earnings per share for the current year.
A number of brokerages have issued reports on IR. Wolfe Research began coverage on Ingersoll-Rand in a research report on Monday, May 4th. They set a “peer perform” rating and a $31.00 price objective on the stock. UBS Group upped their price objective on Ingersoll-Rand from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Goldman Sachs Group began coverage on Ingersoll-Rand in a research report on Sunday, June 14th. They set a “neutral” rating on the stock. Gordon Haskett began coverage on Ingersoll-Rand in a research report on Tuesday, April 14th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Barclays restated a “buy” rating and set a $32.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Ingersoll-Rand has a consensus rating of “Buy” and a consensus target price of $77.41.
In other Ingersoll-Rand news, major shareholder Kkr Group Partnership L.P. sold 13,782,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $28.82, for a total transaction of $397,211,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 65,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $25.14, for a total value of $1,634,100.00. Following the sale, the insider now directly owns 76,966 shares in the company, valued at approximately $1,934,925.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,990,621 shares of company stock worth $767,986,711 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
Ingersoll-Rand Company 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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