Envestnet Asset Management Inc. Has $23.62 Million Holdings in Ingersoll-Rand PLC (IR)
Envestnet Asset Management Inc. raised its stake in Ingersoll-Rand PLC (NYSE:IR) by 0.5% during the 1st quarter, Holdings Channel reports. The firm owned 218,843 shares of the industrial products company’s stock after acquiring an additional 1,156 shares during the period. Envestnet Asset Management Inc.’s holdings in Ingersoll-Rand were worth $23,624,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in IR. MorganRosel Wealth Management LLC boosted its stake in shares of Ingersoll-Rand by 1.3% in the first quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock valued at $773,000 after buying an additional 91 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Ingersoll-Rand by 10.0% during the first quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 101 shares during the last quarter. Cetera Advisor Networks LLC raised its holdings in Ingersoll-Rand by 0.5% during the first quarter. Cetera Advisor Networks LLC now owns 26,743 shares of the industrial products company’s stock worth $2,884,000 after purchasing an additional 124 shares during the last quarter. Sigma Planning Corp raised its holdings in Ingersoll-Rand by 2.0% during the fourth quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 136 shares during the last quarter. Finally, First Manhattan Co. raised its holdings in Ingersoll-Rand by 5.2% during the first quarter. First Manhattan Co. now owns 2,851 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.
Several equities analysts recently issued reports on the company. Barclays lifted their price objective on Ingersoll-Rand from $115.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. KeyCorp lifted their price objective on Ingersoll-Rand from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Wells Fargo & Co cut Ingersoll-Rand from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $110.00 to $113.00 in a report on Monday, March 18th. They noted that the move was a valuation call. Zacks Investment Research cut Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Monday, April 15th. Finally, Bank of America raised Ingersoll-Rand from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $130.00 in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Ingersoll-Rand presently has a consensus rating of “Buy” and an average price target of $123.96.
NYSE IR opened at $120.73 on Tuesday. Ingersoll-Rand PLC has a fifty-two week low of $85.15 and a fifty-two week high of $125.26. The firm has a market capitalization of $28.54 billion, a PE ratio of 21.52, a P/E/G ratio of 1.74 and a beta of 1.27. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts predict that Ingersoll-Rand PLC will post 6.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.76%. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
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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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