Ingersoll-Rand PLC (NYSE:IR) Holdings Lowered by Teacher Retirement System of Texas
Teacher Retirement System of Texas trimmed its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 22.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,797 shares of the industrial products company’s stock after selling 65,027 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Ingersoll-Rand worth $28,982,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrow Financial Corp increased its holdings in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 141 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of Ingersoll-Rand during the 1st quarter valued at about $38,000. Berman Capital Advisors LLC increased its holdings in shares of Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 153 shares during the last quarter. Finally, Halbert Hargrove Russell LLC increased its holdings in shares of Ingersoll-Rand by 1,902.2% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 7,368 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 7,000 shares during the last quarter. 77.46% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on IR. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price objective on the stock in a report on Wednesday, May 1st. KeyCorp increased their price objective on Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Credit Suisse Group increased their target price on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. ValuEngine downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays increased their target price on Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $128.70.
IR stock traded down $0.53 during midday trading on Thursday, reaching $118.13. 132,360 shares of the company’s stock traded hands, compared to its average volume of 1,351,490. The company has a 50-day simple moving average of $122.46 and a two-hundred day simple moving average of $116.14. Ingersoll-Rand PLC has a 1-year low of $85.15 and a 1-year high of $128.31. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.70 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.03. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the firm posted $1.85 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Ingersoll-Rand PLC will post 6.4 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.12 dividend on an annualized basis and a yield of 1.79%. Ingersoll-Rand’s dividend payout ratio is 37.79%.
Ingersoll-Rand Company Profile
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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