Insider Selling: Ingersoll-Rand PLC (IR) Insider Sells 9,521 Shares of Stock
Ingersoll-Rand PLC (NYSE:IR) insider Keith A. Sultana sold 9,521 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $102.79, for a total value of $978,663.59. Following the completion of the transaction, the insider now directly owns 13,192 shares in the company, valued at approximately $1,356,005.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of IR opened at $104.59 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. Ingersoll-Rand PLC has a 12-month low of $79.63 and a 12-month high of $107.08. The firm has a market cap of $25.04 billion, a PE ratio of 18.64, a PEG ratio of 1.60 and a beta of 1.26.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.03. Ingersoll-Rand had a return on equity of 19.78% and a net margin of 8.54%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts anticipate that Ingersoll-Rand PLC will post 6.3 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in Ingersoll-Rand by 8,911.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 2,413,413 shares during the last quarter. Resources Investment Advisors Inc. bought a new stake in Ingersoll-Rand in the fourth quarter valued at about $27,000. Legacy Financial Advisors Inc. increased its holdings in Ingersoll-Rand by 78.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Ruggie Capital Group bought a new stake in Ingersoll-Rand in the fourth quarter valued at about $28,000. Finally, First Mercantile Trust Co. increased its holdings in shares of Ingersoll-Rand by 67.9% in the fourth quarter. First Mercantile Trust Co. now owns 470 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 190 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on IR shares. Cowen reissued a “buy” rating and issued a $115.00 price objective on shares of Ingersoll-Rand in a research note on Wednesday, January 23rd. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Thursday, December 20th. ValuEngine raised Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Citigroup boosted their price objective on Ingersoll-Rand from $117.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Finally, Robert W. Baird set a $106.00 price objective on Ingersoll-Rand and gave the stock a “hold” rating in a research note on Thursday, October 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $109.77.
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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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