Ingersoll-Rand PLC (NYSE:IR) EVP David S. Regnery sold 12,098 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $97.00, for a total value of $1,173,506.00. Following the completion of the transaction, the executive vice president now owns 55,810 shares of the company’s stock, valued at $5,413,570. The transaction was disclosed in a filing with the SEC, which is available at this link.
IR stock traded down $0.56 during trading on Monday, hitting $97.16. 94,950 shares of the company traded hands, compared to its average volume of 1,338,327. The stock has a market capitalization of $23.97 billion, a PE ratio of 21.67, a P/E/G ratio of 1.59 and a beta of 1.33. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $98.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. Ingersoll-Rand’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 EPS. analysts anticipate that Ingersoll-Rand PLC will post 5.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a dividend of $0.53 per share. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.18%. Ingersoll-Rand’s dividend payout ratio is presently 39.91%.
IR has been the subject of a number of research reports. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Thursday, June 21st. Citigroup cut their price objective on Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating for the company in a report on Monday, April 9th. Stifel Nicolaus upped their price objective on Ingersoll-Rand from $94.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Wolfe Research started coverage on Ingersoll-Rand in a report on Wednesday, June 27th. They set an “outperform” rating for the company. Finally, Cowen started coverage on Ingersoll-Rand in a report on Tuesday, June 19th. They set an “outperform” rating and a $111.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $105.08.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Capital Financial Advisers LLC raised its position in Ingersoll-Rand by 7.1% during the 1st quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 571 shares during the last quarter. Sentry Investment Management LLC raised its position in Ingersoll-Rand by 3.3% during the 1st quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock valued at $1,581,000 after purchasing an additional 595 shares during the last quarter. River Road Asset Management LLC raised its position in Ingersoll-Rand by 20.5% during the 1st quarter. River Road Asset Management LLC now owns 3,644 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 621 shares during the last quarter. Meeder Asset Management Inc. raised its position in Ingersoll-Rand by 4.2% during the 1st quarter. Meeder Asset Management Inc. now owns 16,333 shares of the industrial products company’s stock valued at $1,396,000 after purchasing an additional 651 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Ingersoll-Rand by 3.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 24,197 shares of the industrial products company’s stock valued at $2,069,000 after purchasing an additional 705 shares during the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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