LS Investment Advisors LLC raised its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,678 shares of the industrial products company’s stock after buying an additional 904 shares during the period. LS Investment Advisors LLC’s holdings in Ingersoll-Rand PLC were worth $706,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Apriem Advisors bought a new stake in shares of Ingersoll-Rand PLC during the third quarter worth about $104,000. Synovus Financial Corp raised its stake in shares of Ingersoll-Rand PLC by 175.2% in the third quarter. Synovus Financial Corp now owns 1,544 shares of the industrial products company’s stock worth $105,000 after buying an additional 983 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Ingersoll-Rand PLC by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock worth $137,000 after buying an additional 140 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Ingersoll-Rand PLC by 20.1% in the fourth quarter. Bessemer Group Inc. now owns 1,693 shares of the industrial products company’s stock worth $127,000 after buying an additional 283 shares in the last quarter. Finally, Parallel Advisors LLC purchased a new stake in Ingersoll-Rand PLC during the fourth quarter valued at $137,000. 82.76% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingersoll-Rand PLC (IR) opened at 89.35 on Tuesday. The company has a 50-day moving average price of $87.83 and a 200-day moving average price of $81.09. Ingersoll-Rand PLC has a 12 month low of $59.10 and a 12 month high of $90.18. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 16.23 and a beta of 1.31.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Ingersoll-Rand PLC had a return on equity of 16.70% and a net margin of 10.93%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Ingersoll-Rand PLC’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that Ingersoll-Rand PLC will post $4.51 EPS for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.79%. The ex-dividend date is Wednesday, June 7th. Ingersoll-Rand PLC’s payout ratio is currently 28.42%.
Several analysts recently weighed in on IR shares. Evercore ISI downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Friday, February 10th. Wells Fargo & Co upgraded Ingersoll-Rand PLC from a “market perform” rating to an “outperform” rating in a report on Monday, March 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Ingersoll-Rand PLC in a report on Friday, March 31st. Zacks Investment Research upgraded shares of Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Wednesday, April 5th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $84.00 target price on shares of Ingersoll-Rand PLC in a report on Tuesday, April 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $93.17. In related news, insider Marcia J. Avedon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $89.53, for a total value of $895,300.00. Following the sale, the insider now directly owns 118,297 shares in the company, valued at approximately $10,591,130.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Zafari sold 1,483 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $89.59, for a total value of $132,861.97. Following the completion of the sale, the executive vice president now owns 66,944 shares in the company, valued at $5,997,512.96. The disclosure for this sale can be found here. Insiders have sold 14,983 shares of company stock worth $1,341,902 in the last 90 days. 0.65% of the stock is currently owned by insiders.
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