KCM Investment Advisors LLC decreased its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,871 shares of the industrial products company’s stock after selling 1,708 shares during the quarter. KCM Investment Advisors LLC’s holdings in Ingersoll-Rand were worth $2,129,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Penserra Capital Management LLC lifted its holdings in Ingersoll-Rand by 18.6% during the 4th quarter. Penserra Capital Management LLC now owns 3,640 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 572 shares during the last quarter. New Mexico Educational Retirement Board increased its position in Ingersoll-Rand by 2.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 24,398 shares of the industrial products company’s stock worth $2,176,000 after buying an additional 600 shares during the period. Commonwealth Equity Services Inc increased its position in Ingersoll-Rand by 3.1% during the 3rd quarter. Commonwealth Equity Services Inc now owns 20,369 shares of the industrial products company’s stock worth $1,816,000 after buying an additional 604 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Ingersoll-Rand by 5.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,503 shares of the industrial products company’s stock worth $1,026,000 after buying an additional 605 shares during the period. Finally, BB&T Securities LLC increased its position in Ingersoll-Rand by 0.4% during the 4th quarter. BB&T Securities LLC now owns 155,136 shares of the industrial products company’s stock worth $13,836,000 after buying an additional 626 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.
In other Ingersoll-Rand news, insider Paul A. Camuti sold 1,678 shares of Ingersoll-Rand stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $85.15, for a total value of $142,881.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Michael W. Lamach sold 210,508 shares of Ingersoll-Rand stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $88.28, for a total value of $18,583,646.24. The disclosure for this sale can be found here. Insiders sold 280,380 shares of company stock worth $24,889,306 in the last 90 days. 0.63% of the stock is owned by company insiders.
Ingersoll-Rand PLC (NYSE:IR) opened at $86.08 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 0.95. Ingersoll-Rand PLC has a 12-month low of $77.26 and a 12-month high of $97.67. The company has a market capitalization of $22,237.65, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.73 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts expect that Ingersoll-Rand PLC will post 5.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, March 8th. Ingersoll-Rand’s payout ratio is currently 35.50%.
Several research analysts have weighed in on the company. Royal Bank of Canada reiterated a “hold” rating and set a $99.00 price objective on shares of Ingersoll-Rand in a research report on Tuesday, February 27th. Stifel Nicolaus reiterated a “buy” rating and set a $106.00 price objective on shares of Ingersoll-Rand in a research report on Friday, February 16th. Barclays assumed coverage on Ingersoll-Rand in a research report on Thursday, February 15th. They set an “overweight” rating and a $111.00 price objective on the stock. Argus increased their price objective on Ingersoll-Rand to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets increased their price objective on Ingersoll-Rand to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $103.69.
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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