Signature Estate & Investment Advisors LLC bought a new position in shares of Ingersoll-Rand PLC (NYSE:IR) during the 1st quarter, Holdings Channel reports. The firm bought 36,391 shares of the industrial products company’s stock, valued at approximately $3,928,000.

Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI grew its stake in Ingersoll-Rand by 93.1% during the 4th quarter. Citizens Financial Group Inc RI now owns 1,014 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 489 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Ingersoll-Rand by 9.7% in the 4th quarter. Valley National Advisers Inc. now owns 8,201 shares of the industrial products company’s stock valued at $748,000 after buying an additional 726 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in shares of Ingersoll-Rand in the 4th quarter valued at about $46,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ingersoll-Rand in the 1st quarter valued at about $1,599,000. Finally, APG Asset Management N.V. lifted its holdings in shares of Ingersoll-Rand by 3.3% in the 4th quarter. APG Asset Management N.V. now owns 1,007,581 shares of the industrial products company’s stock valued at $80,411,000 after buying an additional 31,800 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Shares of IR stock traded up $1.42 during trading hours on Friday, reaching $124.69. The company had a trading volume of 1,388,635 shares, compared to its average volume of 1,529,624. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.58 and a quick ratio of 0.94. The firm has a market capitalization of $30.07 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.80 and a beta of 1.32. Ingersoll-Rand PLC has a 12-month low of $85.05 and a 12-month high of $125.26.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts expect that Ingersoll-Rand PLC will post 6.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.70%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

In related news, CFO Susan K. Carter sold 70,037 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.67, for a total value of $7,400,809.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul A. Camuti sold 7,034 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $104.95, for a total value of $738,218.30. Following the completion of the transaction, the insider now owns 51,497 shares of the company’s stock, valued at $5,404,610.15. The disclosure for this sale can be found here. Insiders sold 237,717 shares of company stock valued at $25,230,020 over the last 90 days. Company insiders own 0.70% of the company’s stock.

IR has been the subject of several analyst reports. Bank of America raised Ingersoll-Rand from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $130.00 in a report on Thursday, April 4th. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a report on Tuesday, April 2nd. Cowen reaffirmed a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a report on Wednesday, January 23rd. Morgan Stanley set a $120.00 price target on Ingersoll-Rand and gave the stock a “buy” rating in a report on Tuesday, February 26th. Finally, ValuEngine raised Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $122.75.

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

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