New York State Common Retirement Fund decreased its position in Ingersoll-Rand PLC (NYSE:IR) by 2.1% in the first quarter, HoldingsChannel.com reports. The firm owned 774,474 shares of the industrial products company’s stock after selling 16,483 shares during the period. New York State Common Retirement Fund’s holdings in Ingersoll-Rand were worth $83,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Ingersoll-Rand by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after purchasing an additional 1,085,581 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Ingersoll-Rand by 0.3% during the third quarter. Vanguard Group Inc now owns 17,140,057 shares of the industrial products company’s stock valued at $1,753,427,000 after purchasing an additional 43,240 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Ingersoll-Rand by 14.8% in the fourth quarter. Bank of Montreal Can now owns 660,642 shares of the industrial products company’s stock worth $60,271,000 after acquiring an additional 85,323 shares during the period. NuWave Investment Management LLC lifted its stake in shares of Ingersoll-Rand by 33.3% in the fourth quarter. NuWave Investment Management LLC now owns 1,269 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 317 shares during the period. Finally, Cypress Wealth Services LLC lifted its stake in shares of Ingersoll-Rand by 2.9% in the fourth quarter. Cypress Wealth Services LLC now owns 11,628 shares of the industrial products company’s stock worth $1,061,000 after acquiring an additional 331 shares during the period. Hedge funds and other institutional investors own 81.51% of the company’s stock.

In related news, Chairman Michael W. Lamach sold 105,064 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.74, for a total transaction of $11,109,467.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcia J. Avedon sold 10,205 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $105.95, for a total value of $1,081,219.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,726 shares of company stock valued at $22,538,262. Corporate insiders own 0.70% of the company’s stock.

A number of research firms recently commented on IR. Zacks Investment Research lowered Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. BMO Capital Markets lifted their price objective on Ingersoll-Rand from $112.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Co lifted their price objective on Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Credit Suisse Group lifted their price objective on Ingersoll-Rand from $122.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Barclays lifted their price objective on Ingersoll-Rand from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $123.96.

NYSE IR opened at $121.34 on Tuesday. The company has a market cap of $29.14 billion, a PE ratio of 21.63, a PEG ratio of 1.77 and a beta of 1.32. Ingersoll-Rand PLC has a 52 week low of $85.15 and a 52 week high of $125.26. The company has a quick ratio of 1.14, a current ratio of 1.58 and a debt-to-equity ratio of 0.75.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The firm had revenue of $3.58 billion during 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts anticipate that Ingersoll-Rand PLC will post 6.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.12 annualized dividend and a dividend yield of 1.75%. Ingersoll-Rand’s dividend payout ratio is 37.79%.

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About Ingersoll-Rand

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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Institutional Ownership by Quarter for Ingersoll-Rand (NYSE:IR)

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