Ingersoll-Rand PLC (IR) Stake Decreased by FDx Advisors Inc.
FDx Advisors Inc. reduced its holdings in Ingersoll-Rand PLC (NYSE:IR) by 21.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,694 shares of the industrial products company’s stock after selling 1,272 shares during the quarter. FDx Advisors Inc.’s holdings in Ingersoll-Rand were worth $421,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Ingersoll-Rand by 3.8% during the first quarter. BlackRock Inc. now owns 17,969,852 shares of the industrial products company’s stock valued at $1,536,604,000 after purchasing an additional 664,322 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Ingersoll-Rand by 16.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock valued at $616,406,000 after purchasing an additional 954,768 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Ingersoll-Rand by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 2,824,836 shares of the industrial products company’s stock valued at $253,473,000 after buying an additional 485,451 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Ingersoll-Rand by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,537,261 shares of the industrial products company’s stock valued at $227,669,000 after buying an additional 94,566 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its holdings in shares of Ingersoll-Rand by 9.6% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,764,025 shares of the industrial products company’s stock valued at $120,424,000 after buying an additional 154,309 shares in the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.
A number of analysts have recently commented on IR shares. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Thursday, June 21st. Barclays boosted their target price on shares of Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Argus boosted their price objective on shares of Ingersoll-Rand from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Wolfe Research assumed coverage on shares of Ingersoll-Rand in a research note on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, Cowen assumed coverage on shares of Ingersoll-Rand in a research note on Tuesday, June 19th. They set an “outperform” rating and a $111.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $108.83.
Ingersoll-Rand stock opened at $101.13 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 1.30. Ingersoll-Rand PLC has a 12 month low of $79.63 and a 12 month high of $102.24. The firm has a market capitalization of $24.76 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.57 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. Ingersoll-Rand’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 EPS. research analysts predict that Ingersoll-Rand PLC will post 5.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a $0.53 dividend. This is a boost from Ingersoll-Rand’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.10%. Ingersoll-Rand’s payout ratio is presently 39.91%.
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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