Gary S. Michel Sells 10,708 Shares of Ingersoll-Rand PLC (IR) Stock
Ingersoll-Rand PLC (NYSE:IR) insider Gary S. Michel sold 10,708 shares of Ingersoll-Rand PLC stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $74.00, for a total transaction of $792,392.00. Following the transaction, the insider now directly owns 37,005 shares of the company’s stock, valued at $2,738,370. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 75.83 on Monday. The stock has a market cap of $19.59 billion, a P/E ratio of 13.16 and a beta of 1.32. Ingersoll-Rand PLC has a 52-week low of $47.08 and a 52-week high of $75.90. The firm’s 50-day moving average is $67.52 and its 200 day moving average is $66.35.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.12. The company earned $3.57 billion during the quarter, compared to analyst estimates of $3.55 billion. Ingersoll-Rand PLC had a net margin of 11.21% and a return on equity of 17.70%. Ingersoll-Rand PLC’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Analysts forecast that Ingersoll-Rand PLC will post $4.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.40 dividend. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 22.22%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Ingersoll-Rand PLC by 38.0% in the first quarter. Wellington Management Group LLP now owns 1,552,665 shares of the company’s stock valued at $96,281,000 after buying an additional 427,812 shares during the last quarter. Strs Ohio raised its position in Ingersoll-Rand PLC by 29.2% in the second quarter. Strs Ohio now owns 945,824 shares of the company’s stock valued at $60,230,000 after buying an additional 213,810 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in Ingersoll-Rand PLC by 76.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,565 shares of the company’s stock valued at $291,000 after buying an additional 1,980 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Ingersoll-Rand PLC during the second quarter valued at approximately $31,670,000. Finally, Boston Partners raised its position in Ingersoll-Rand PLC by 6.8% in the second quarter. Boston Partners now owns 4,844,683 shares of the company’s stock valued at $308,509,000 after buying an additional 310,230 shares during the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Ingersoll-Rand PLC from $74.00 to $76.00 and gave the company a “sector perform” rating in a report on Thursday, October 27th. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a report on Tuesday, October 18th. KeyCorp reiterated a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Finally, Stifel Nicolaus decreased their price objective on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.12.
About Ingersoll-Rand PLC
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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