Ingersoll-Rand PLC (IR) Shares Bought by Verition Fund Management LLC
Verition Fund Management LLC raised its holdings in Ingersoll-Rand PLC (NYSE:IR) by 103.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,603 shares of the industrial products company’s stock after acquiring an additional 18,605 shares during the period. Verition Fund Management LLC’s holdings in Ingersoll-Rand were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Calton & Associates Inc. acquired a new position in Ingersoll-Rand in the fourth quarter valued at about $112,000. Synovus Financial Corp acquired a new position in Ingersoll-Rand in the first quarter valued at about $118,000. Advisory Services Network LLC grew its stake in Ingersoll-Rand by 61.3% in the fourth quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 680 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in shares of Ingersoll-Rand by 140.7% in the first quarter. Thompson Davis & CO. Inc. now owns 1,793 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Financial Counselors Inc. bought a new stake in shares of Ingersoll-Rand in the fourth quarter valued at about $205,000. 79.57% of the stock is owned by hedge funds and other institutional investors.
IR has been the topic of a number of research reports. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday, May 22nd. Citigroup cut their price target on Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating on the stock in a report on Monday, April 9th. Stifel Nicolaus restated a “buy” rating and issued a $106.00 price target on shares of Ingersoll-Rand in a report on Friday, February 16th. Barclays initiated coverage on Ingersoll-Rand in a report on Thursday, February 15th. They issued an “overweight” rating and a $111.00 price target on the stock. Finally, Royal Bank of Canada restated a “hold” rating and issued a $99.00 price target on shares of Ingersoll-Rand in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $103.69.
Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Ingersoll-Rand had a return on equity of 17.03% and a net margin of 8.96%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. Ingersoll-Rand’s revenue was up 12.8% on a year-over-year basis. equities research analysts predict that Ingersoll-Rand PLC will post 5.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, September 6th. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. Ingersoll-Rand’s dividend payout ratio is presently 39.91%.
In related news, SVP Marcia J. Avedon sold 10,460 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $92.00, for a total transaction of $962,320.00. Following the sale, the senior vice president now owns 113,288 shares in the company, valued at $10,422,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul A. Camuti sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $90.00, for a total value of $279,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand Company Profile
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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