Nippon Life Insurance Co. lowered its position in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,525 shares of the industrial products company’s stock after selling 705 shares during the period. Nippon Life Insurance Co.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $1,602,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Israel Discount Bank of New York bought a new position in shares of Ingersoll-Rand PLC (Ireland) during the first quarter valued at approximately $126,000. Tradewinds Capital Management LLC raised its stake in Ingersoll-Rand PLC (Ireland) by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock valued at $137,000 after buying an additional 140 shares during the last quarter. Zions Bancorporation raised its stake in Ingersoll-Rand PLC (Ireland) by 1.1% in the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock valued at $163,000 after buying an additional 22 shares during the last quarter. Parallel Advisors LLC raised its stake in Ingersoll-Rand PLC (Ireland) by 9.6% in the first quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock valued at $178,000 after buying an additional 176 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. raised its stake in Ingersoll-Rand PLC (Ireland) by 6.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock valued at $192,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.
Ingersoll-Rand PLC (IR) opened at 85.18 on Friday. Ingersoll-Rand PLC has a 12 month low of $62.40 and a 12 month high of $94.39. The company has a market cap of $21.61 billion, a price-to-earnings ratio of 21.15 and a beta of 1.31. The company’s 50-day moving average is $89.50 and its 200 day moving average is $85.83.
Ingersoll-Rand PLC (Ireland) (NYSE:IR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a return on equity of 16.64% and a net margin of 7.60%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. Equities analysts forecast that Ingersoll-Rand PLC will post $4.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is presently 39.80%.
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Several brokerages have recently weighed in on IR. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Friday, June 16th. Credit Suisse Group restated a “buy” rating and issued a $105.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Wolfe Research began coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $97.43.
In other news, insider Paul A. Camuti sold 6,960 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $89.90, for a total value of $625,704.00. Following the completion of the sale, the insider now owns 64,979 shares of the company’s stock, valued at approximately $5,841,612.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Didier P. Teirlinck sold 26,174 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the completion of the sale, the executive vice president now directly owns 131,129 shares of the company’s stock, valued at approximately $11,290,206.90. The disclosure for this sale can be found here. In the last three months, insiders sold 35,634 shares of company stock valued at $3,099,360. 0.65% of the stock is currently owned by 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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