Atalanta Sosnoff Capital LLC cut its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,652 shares of the industrial products company’s stock after selling 5,728 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Ingersoll-Rand PLC (Ireland) were worth $9,838,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of Ingersoll-Rand PLC (Ireland) during the second quarter valued at approximately $1,784,000. Aperio Group LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 11.3% in the second quarter. Aperio Group LLC now owns 162,383 shares of the industrial products company’s stock worth $14,840,000 after buying an additional 16,447 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 15.1% in the second quarter. Nisa Investment Advisors LLC now owns 43,190 shares of the industrial products company’s stock worth $3,934,000 after buying an additional 5,650 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 2.0% in the second quarter. LS Investment Advisors LLC now owns 8,850 shares of the industrial products company’s stock worth $809,000 after buying an additional 172 shares in the last quarter. Finally, Mathes Company Inc. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 1.0% in the second quarter. Mathes Company Inc. now owns 48,065 shares of the industrial products company’s stock worth $4,393,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.
Shares of Ingersoll-Rand PLC (NYSE IR) opened at 85.91 on Tuesday. The company has a 50-day moving average of $90.06 and a 200 day moving average of $85.74. The stock has a market cap of $21.79 billion, a PE ratio of 21.33 and a beta of 1.31. Ingersoll-Rand PLC has a one year low of $62.40 and a one year high of $94.39.
Ingersoll-Rand PLC (Ireland) (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.03. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $1.38 EPS. Ingersoll-Rand PLC (Ireland)’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts predict that Ingersoll-Rand PLC will post $4.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.45 per share. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.10%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is presently 39.80%.
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A number of equities analysts have weighed in on IR shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $93.00 target price (up previously from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, July 27th. Wolfe Research started coverage on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. UBS AG set a $97.00 target price on shares of Ingersoll-Rand PLC (Ireland) and gave the company a “buy” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.43.
In other Ingersoll-Rand PLC (Ireland) news, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $88.03, for a total transaction of $220,075.00. Following the transaction, the director now owns 65,932 shares in the company, valued at approximately $5,803,993.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul A. Camuti sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $89.64, for a total transaction of $313,740.00. Following the transaction, the insider now owns 61,519 shares in the company, valued at approximately $5,514,563.16. The disclosure for this sale can be found here. Insiders have sold a total of 14,443 shares of company stock worth $1,292,381 in the last 90 days. 0.65% of the stock is currently owned by company insiders.
Ingersoll-Rand PLC (Ireland) 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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