Westpac Banking Corp boosted its position in Ingersoll-Rand PLC (NYSE:IR) by 49.8% during the second quarter, Holdings Channel reports. The fund owned 51,803 shares of the company’s stock after buying an additional 17,223 shares during the period. Westpac Banking Corp’s holdings in Ingersoll-Rand PLC were worth $3,299,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Ingersoll-Rand PLC by 1.7% in the second quarter. Vanguard Group Inc. now owns 15,011,170 shares of the company’s stock worth $955,911,000 after buying an additional 244,964 shares during the last quarter. Boston Partners boosted its position in shares of Ingersoll-Rand PLC by 6.8% in the second quarter. Boston Partners now owns 4,844,683 shares of the company’s stock worth $308,509,000 after buying an additional 310,230 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Ingersoll-Rand PLC by 3.0% in the second quarter. American Century Companies Inc. now owns 4,676,382 shares of the company’s stock worth $297,792,000 after buying an additional 134,737 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Ingersoll-Rand PLC by 39.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,647,905 shares of the company’s stock worth $226,207,000 after buying an additional 1,030,689 shares during the last quarter. Finally, BlackRock Group LTD boosted its position 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 last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.
Ingersoll-Rand PLC (NYSE:IR) traded up 0.125% on Monday, hitting $64.731. The stock had a trading volume of 72,972 shares. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97. The company has a market cap of $16.70 billion, a P/E ratio of 11.919 and a beta of 1.35. The stock has a 50 day moving average price of $66.70 and a 200 day moving average price of $64.81.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The company earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Ingersoll-Rand PLC’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 23.53%.
IR has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating and issued a $72.00 price target on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. BMO Capital Markets initiated coverage on Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 price target for the company. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research cut Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.94.
In other news, insider Marcia J. Avedon sold 5,815 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $68.17, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the business’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 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.
Ingersoll-Rand PLC Company Profile
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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