Ingersoll-Rand PLC (IR) Stake Increased by US Bancorp DE
US Bancorp DE boosted its stake in Ingersoll-Rand PLC (NYSE:IR) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,533 shares of the company’s stock after buying an additional 18,331 shares during the period. US Bancorp DE owned about 0.06% of Ingersoll-Rand PLC worth $10,634,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Synovus Financial Corp boosted its position in Ingersoll-Rand PLC by 175.2% in the third quarter. Synovus Financial Corp now owns 1,544 shares of the company’s stock valued at $105,000 after buying an additional 983 shares during the last quarter. Penserra Capital Management LLC boosted its position in Ingersoll-Rand PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,872 shares of the company’s stock valued at $127,000 after buying an additional 936 shares during the last quarter. Howe & Rusling Inc. boosted its position in Ingersoll-Rand PLC by 47.4% in the second quarter. Howe & Rusling Inc. now owns 2,112 shares of the company’s stock valued at $134,000 after buying an additional 679 shares during the last quarter. Washington Trust Bank boosted its position in Ingersoll-Rand PLC by 39.6% in the third quarter. Washington Trust Bank now owns 2,374 shares of the company’s stock valued at $161,000 after buying an additional 674 shares during the last quarter. Finally, Zions Bancorporation boosted its position in Ingersoll-Rand PLC by 30.1% in the second quarter. Zions Bancorporation now owns 2,575 shares of the company’s stock valued at $166,000 after buying an additional 596 shares during the last quarter. 81.48% of the stock is owned by institutional investors and hedge funds.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 0.206% during midday trading on Wednesday, hitting $74.905. 758,998 shares of the stock traded hands. The company’s 50 day moving average price is $69.87 and its 200-day moving average price is $67.07. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $76.45. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 12.998 and a beta of 1.32.
Ingersoll-Rand PLC (NYSE:IR) last posted its earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.12. The firm 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%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. On average, equities research analysts expect that Ingersoll-Rand PLC will post $4.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. Ingersoll-Rand PLC’s payout ratio is 22.22%.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Friday, November 25th. Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Tuesday, October 18th. Royal Bank Of Canada boosted their target price on shares of Ingersoll-Rand PLC from $74.00 to $76.00 and gave the company a “sector perform” rating in a research report on Thursday, October 27th. KeyCorp restated a “hold” rating on shares of Ingersoll-Rand PLC in a research report on Monday, October 10th. Finally, Buckingham Research lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $69.41.
In related news, Director Richard J. Swift sold 2,100 shares of Ingersoll-Rand PLC stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value of $142,779.00. Following the sale, the director now owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary S. Michel sold 10,708 shares of Ingersoll-Rand PLC stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $74.00, for a total transaction of $792,392.00. Following the completion of the sale, the insider now directly owns 37,005 shares in the company, valued at approximately $2,738,370. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Ingersoll-Rand PLC Company Profile
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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