Kanawha Capital Management LLC maintained its position in shares of Ingersoll-Rand PLC (NYSE:IR) during the second quarter, Holdings Channel reports. The fund owned 4,600 shares of the company’s stock at the end of the second quarter. Kanawha Capital Management LLC’s holdings in Ingersoll-Rand PLC were worth $293,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. Wellington Management Group LLP boosted its position in shares of Ingersoll-Rand PLC by 38.0% in the first quarter. Wellington Management Group LLP now owns 1,552,665 shares of the company’s stock valued at $96,281,000 after buying an additional 427,812 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Ingersoll-Rand PLC by 76.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,565 shares of the company’s stock valued at $291,000 after buying an additional 1,980 shares during the period. Virginia Retirement System purchased a new position in shares of Ingersoll-Rand PLC during the first quarter valued at approximately $262,000. Strs Ohio boosted its position in shares of Ingersoll-Rand PLC by 29.2% in the second quarter. Strs Ohio now owns 945,824 shares of the company’s stock valued at $60,230,000 after buying an additional 213,810 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in shares of Ingersoll-Rand PLC during the second quarter valued at approximately $31,670,000. 80.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 0.78% during midday trading on Friday, reaching $65.90. The company had a trading volume of 915,115 shares. The stock has a market capitalization of $17.00 billion, a PE ratio of 12.13 and a beta of 1.26. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The stock’s 50 day moving average is $66.35 and its 200-day moving average is $65.48.
Ingersoll-Rand PLC (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. The company earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a $0.40 dividend. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
Several research analysts recently commented on IR shares. Zacks Investment Research cut Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. KeyCorp reiterated a “hold” rating on shares of Ingersoll-Rand PLC in a research note on Monday. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus dropped their price objective on 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. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $68.00.
In other news, SVP Keith A. Sultana sold 3,071 shares of the stock in a transaction dated Monday, August 29th. The stock was 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 $736,129.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard J. Swift sold 2,100 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $67.99, for a total value of $142,779.00. Following the completion of the sale, the director now directly owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. 0.65% of the stock is owned by 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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