Insider Selling: Ingersoll-Rand PLC (NYSE:IR) Insider Sells $482,560.00 in Stock
Ingersoll-Rand PLC (NYSE:IR) insider Evan M. Turtz sold 3,770 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the transaction, the insider now directly owns 15,549 shares in the company, valued at $1,990,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NYSE:IR opened at $124.70 on Friday. The firm has a market capitalization of $30.07 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.83 and a beta of 1.26. The company has a 50-day simple moving average of $124.65. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $128.31. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. Research analysts predict that Ingersoll-Rand PLC will post 6.39 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Ingersoll-Rand in the fourth quarter valued at about $360,951,000. FMR LLC lifted its stake in shares of Ingersoll-Rand by 16.0% in the first quarter. FMR LLC now owns 5,672,472 shares of the industrial products company’s stock valued at $612,343,000 after buying an additional 781,104 shares during the period. First Trust Advisors LP lifted its stake in shares of Ingersoll-Rand by 290.8% in the first quarter. First Trust Advisors LP now owns 547,727 shares of the industrial products company’s stock valued at $59,127,000 after buying an additional 407,571 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ingersoll-Rand by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,277,339 shares of the industrial products company’s stock valued at $298,484,000 after buying an additional 300,549 shares during the period. Finally, Hexavest Inc. bought a new stake in shares of Ingersoll-Rand in the first quarter valued at about $31,241,000. 78.59% of the stock is currently owned by institutional investors.
IR has been the topic of several analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Extended Stay America in a research report on Tuesday, July 2nd. Credit Suisse Group reissued an “outperform” rating and set a GBX 2,012 ($26.29) target price on shares of Aston Martin Lagonda Global in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. ValuEngine downgraded shares of China Southern Airlines from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Finally, BMO Capital Markets downgraded shares of Iamgold from an “outperform” rating to a “market perform” rating in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $124.97.
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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