Calamos Advisors LLC continued to hold its stake in shares of Ingersoll-Rand PLC (NYSE:IR) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,550 shares of the company’s stock at the end of the second quarter. Calamos Advisors LLC’s holdings in Ingersoll-Rand PLC were worth $226,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in IR. Virginia Retirement System purchased a new stake in shares of Ingersoll-Rand PLC during the first quarter worth about $262,000. Pacad Investment Ltd. purchased a new stake in shares of Ingersoll-Rand PLC during the first quarter worth about $645,000. Prudential Financial Inc. boosted its stake in shares of Ingersoll-Rand PLC by 1.2% in the first quarter. Prudential Financial Inc. now owns 316,923 shares of the company’s stock worth $19,652,000 after buying an additional 3,670 shares during the period. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Ingersoll-Rand PLC during the first quarter worth about $211,000. Finally, BlackRock Group LTD boosted its stake in shares of Ingersoll-Rand PLC by 7.3% in the first quarter. BlackRock Group LTD now owns 2,840,507 shares of the company’s stock worth $176,140,000 after buying an additional 192,323 shares during the period. 80.97% of the stock is owned by hedge funds and other institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded down 1.93% on Friday, reaching $67.45. 1,927,781 shares of the company traded hands. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 12.42 and a beta of 1.26. The stock has a 50 day moving average of $66.54 and a 200-day moving average of $65.39.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.30 by $0.08. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, equities analysts anticipate that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, December 7th. This is a positive change from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is presently 23.53%.
IR has been the subject of a number of analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. BMO Capital Markets initiated coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Finally, Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $68.00.
In related news, SVP Keith A. Sultana sold 3,071 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $68.81, for a total value of $211,315.51. Following the completion of the sale, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $736,129.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul A. Camuti sold 2,436 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $67.91, for a total transaction of $165,428.76. Following the completion of the sale, the insider now directly owns 52,240 shares of the company’s stock, valued at approximately $3,547,618.40. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
About Ingersoll-Rand PLC
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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