Ingersoll-Rand PLC (NYSE:IR) Shares Purchased by Willingdon Wealth Management
Willingdon Wealth Management increased its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 5,124.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,321 shares of the industrial products company’s stock after acquiring an additional 6,200 shares during the period. Willingdon Wealth Management’s holdings in Ingersoll-Rand were worth $801,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in IR. WP Advisors LLC acquired a new position in shares of Ingersoll-Rand in the 1st quarter valued at approximately $34,000. Arrow Financial Corp raised its position in shares of Ingersoll-Rand by 232.6% in the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Ingersoll-Rand by 92.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 141 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of Ingersoll-Rand in the 1st quarter valued at approximately $38,000. Finally, Berman Capital Advisors LLC raised its position in shares of Ingersoll-Rand by 93.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. 77.97% of the stock is currently owned by hedge funds and other institutional investors.
IR has been the topic of several research reports. Cowen reissued a “buy” rating and set a $131.00 price target on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Barclays upped their price target on Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. ValuEngine lowered Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on Ingersoll-Rand from $137.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target on the stock in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $128.70.
Ingersoll-Rand (NYSE:IR) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the business posted $1.85 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Ingersoll-Rand PLC will post 6.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
In related news, Director Jared L. Cohon sold 938 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total value of $111,687.66. Following the completion of the sale, the director now directly owns 23,697 shares of the company’s stock, valued at approximately $2,821,601.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at $44,529,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,441 shares of company stock valued at $18,935,873. Company 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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