Sciencast Management LP Takes $1.10 Million Position in Ingersoll-Rand PLC (NYSE:IR)

Sciencast Management LP bought a new stake in Ingersoll-Rand PLC (NYSE:IR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,355 shares of the industrial products company’s stock, valued at approximately $1,102,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Vanguard Group Inc. grew its stake in shares of Ingersoll-Rand by 0.8% during the second quarter. Vanguard Group Inc. now owns 17,825,020 shares of the industrial products company’s stock worth $2,257,896,000 after purchasing an additional 146,948 shares during the period. State Street Corp grew its stake in shares of Ingersoll-Rand by 6.8% during the third quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock worth $1,339,015,000 after purchasing an additional 688,390 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Ingersoll-Rand by 19,817.3% during the second quarter. Nuveen Asset Management LLC now owns 5,759,489 shares of the industrial products company’s stock worth $729,554,000 after purchasing an additional 5,730,572 shares during the period. Bank of America Corp DE grew its stake in shares of Ingersoll-Rand by 7.5% during the second quarter. Bank of America Corp DE now owns 4,346,669 shares of the industrial products company’s stock worth $550,592,000 after purchasing an additional 301,918 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Ingersoll-Rand by 154.1% during the second quarter. UBS Asset Management Americas Inc. now owns 2,848,266 shares of the industrial products company’s stock worth $360,790,000 after purchasing an additional 1,727,526 shares during the period. 79.54% of the stock is owned by institutional investors.

IR has been the subject of a number of analyst reports. Barclays reaffirmed a “buy” rating and set a $134.00 price objective on shares of Ingersoll-Rand in a research note on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on Ingersoll-Rand from $142.00 to $147.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stephens cut Ingersoll-Rand from an “overweight” rating to an “equal” rating in a research note on Monday, October 7th. Finally, UBS Group initiated coverage on Ingersoll-Rand in a research note on Thursday, December 12th. They set a “buy” rating and a $150.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $137.00.

In other news, EVP David S. Regnery sold 10,645 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $134.90, for a total value of $1,436,010.50. Following the sale, the executive vice president now directly owns 63,288 shares in the company, valued at $8,537,551.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael W. Lamach sold 242,347 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $135.00, for a total value of $32,716,845.00. Following the completion of the sale, the chief executive officer now owns 452,129 shares in the company, valued at $61,037,415. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 282,049 shares of company stock worth $37,930,655. Corporate insiders own 0.70% of the company’s stock.

IR stock opened at $132.89 on Friday. The business’s 50-day moving average price is $132.50 and its two-hundred day moving average price is $125.17. The company has a current ratio of 1.28, a quick ratio of 0.88 and a debt-to-equity ratio of 0.68. The firm has a market cap of $31.19 billion, a PE ratio of 23.69, a P/E/G ratio of 1.78 and a beta of 1.22. Ingersoll-Rand PLC has a 1-year low of $92.24 and a 1-year high of $138.33.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.08. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. On average, analysts forecast that Ingersoll-Rand PLC will post 6.4 earnings per share for the current year.

About Ingersoll-Rand

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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