Sit Investment Associates Inc. maintained its stake in Ingersoll-Rand PLC (NYSE:IR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,300 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Ingersoll-Rand PLC were worth $1,356,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of IR. Springbok Capital Management LLC acquired a new stake in Ingersoll-Rand PLC during the first quarter valued at approximately $999,000. Nuveen Asset Management LLC raised its stake in Ingersoll-Rand PLC by 319.7% in the first quarter. Nuveen Asset Management LLC now owns 75,802 shares of the company’s stock valued at $4,700,000 after buying an additional 57,742 shares during the last quarter. Wellington Management Group LLP raised its stake in 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 last quarter. Geode Capital Management LLC raised its stake in Ingersoll-Rand PLC by 0.3% in the first quarter. Geode Capital Management LLC now owns 2,093,664 shares of the company’s stock valued at $129,566,000 after buying an additional 5,470 shares during the last quarter. Finally, UBS Group AG raised its stake in Ingersoll-Rand PLC by 9.5% in the first quarter. UBS Group AG now owns 780,103 shares of the company’s stock valued at $48,375,000 after buying an additional 67,878 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded down 3.67% during mid-day trading on Tuesday, hitting $64.75. 2,395,286 shares of the stock traded hands. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 11.92 and a beta of 1.26. The firm’s 50-day moving average is $66.53 and its 200-day moving average is $65.49.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors 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 2.38%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is 23.53%.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Ingersoll-Rand PLC from a “sell” rating to a “hold” rating and set a $77.00 price target on the stock in a report on Tuesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday. BMO Capital Markets started coverage on shares of Ingersoll-Rand PLC in a research report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price objective for the company. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research report on Sunday, July 10th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $68.00.
In related news, Director Richard J. Swift sold 2,100 shares of the firm’s 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 owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marcia J. Avedon sold 5,815 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total transaction of $396,408.55. Following the completion of the sale, the insider now owns 117,192 shares of the company’s stock, valued at approximately $7,988,978.64. 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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