Ingersoll-Rand PLC (IR) Position Boosted by American International Group Inc.
American International Group Inc. lifted its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 126,362 shares of the industrial products company’s stock after buying an additional 8,269 shares during the period. American International Group Inc.’s holdings in Ingersoll-Rand were worth $11,270,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Calton & Associates Inc. purchased a new position in Ingersoll-Rand during the fourth quarter worth approximately $112,000. Resources Investment Advisors Inc. raised its stake in Ingersoll-Rand by 218.6% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 929 shares during the period. Valeo Financial Advisors LLC purchased a new position in Ingersoll-Rand during the third quarter worth approximately $152,000. Advisory Services Network LLC raised its stake in Ingersoll-Rand by 61.3% during the fourth quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 680 shares during the period. Finally, Bessemer Group Inc. raised its stake in Ingersoll-Rand by 185.5% during the third quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 1,278 shares during the period. 78.90% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on IR shares. Robert W. Baird reaffirmed a “hold” rating on shares of Ingersoll-Rand in a research note on Friday, November 17th. KeyCorp reaffirmed a “hold” rating on shares of Ingersoll-Rand in a research note on Sunday, November 19th. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Monday, January 22nd. UBS Group started coverage on shares of Ingersoll-Rand in a research note on Monday, January 22nd. They set a “buy” rating and a $105.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $103.08.
Shares of Ingersoll-Rand PLC (NYSE IR) opened at $90.15 on Friday. Ingersoll-Rand PLC has a 52-week low of $77.26 and a 52-week high of $97.67. The stock has a market cap of $22,530.00, a price-to-earnings ratio of 17.44, a PEG ratio of 1.94 and a beta of 1.33. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.41.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the company earned $0.84 EPS. Ingersoll-Rand’s revenue was up 7.7% on a year-over-year basis. research analysts forecast that Ingersoll-Rand PLC will post 5.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 9th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s payout ratio is currently 34.82%.
WARNING: “Ingersoll-Rand PLC (IR) Position Boosted by American International Group Inc.” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/ingersoll-rand-plc-ir-position-boosted-by-american-international-group-inc/1888807.html.
Ingersoll-Rand 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.
Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll-Rand PLC (NYSE:IR).
Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.