Ingersoll-Rand PLC (IR) Position Increased by Valley National Advisers Inc.
Valley National Advisers Inc. increased its holdings in Ingersoll-Rand PLC (NYSE:IR) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,201 shares of the industrial products company’s stock after purchasing an additional 726 shares during the quarter. Valley National Advisers Inc.’s holdings in Ingersoll-Rand were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of IR. Bank OZK lifted its holdings in shares of Ingersoll-Rand by 2.8% during the fourth quarter. Bank OZK now owns 5,041 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 135 shares during the last quarter. Sigma Planning Corp raised its holdings in Ingersoll-Rand by 2.0% in the 4th quarter. Sigma Planning Corp now owns 6,819 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 136 shares during the last quarter. Legacy Financial Advisors Inc. raised its holdings in Ingersoll-Rand by 78.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 137 shares during the last quarter. Csenge Advisory Group raised its holdings in Ingersoll-Rand by 3.2% in the 4th quarter. Csenge Advisory Group now owns 4,711 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 148 shares during the last quarter. Finally, Horan Capital Advisors LLC. raised its holdings in Ingersoll-Rand by 0.5% in the 4th quarter. Horan Capital Advisors LLC. now owns 28,004 shares of the industrial products company’s stock worth $2,555,000 after acquiring an additional 152 shares during the last quarter. 81.02% of the stock is currently owned by institutional investors.
In other news, insider Marcia J. Avedon sold 1,128 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $100.92, for a total transaction of $113,837.76. Following the completion of the sale, the insider now owns 112,064 shares of the company’s stock, valued at approximately $11,309,498.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan K. Carter sold 70,037 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.67, for a total transaction of $7,400,809.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 403,959 shares of company stock valued at $40,020,670. Insiders own 0.70% of the company’s stock.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts forecast that Ingersoll-Rand PLC will post 6.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 7th. Ingersoll-Rand’s payout ratio is 37.79%.
IR has been the subject of a number of recent analyst reports. Credit Suisse Group restated an “outperform” rating and issued a $115.00 price objective (up from $108.00) on shares of Ingersoll-Rand in a report on Thursday, January 31st. Barclays decreased their price objective on shares of Ingersoll-Rand from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 11th. Zacks Investment Research raised shares of Ingersoll-Rand from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Deutsche Bank began coverage on shares of Ingersoll-Rand in a research report on Wednesday, March 13th. They issued a “hold” rating and a $107.00 target price for the company. Finally, Morgan Stanley set a $120.00 target price on shares of Ingersoll-Rand and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $111.21.
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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