Tdam USA Inc. Purchases 2,047 Shares of Ingersoll-Rand PLC (IR)
Tdam USA Inc. grew its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 2.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,583 shares of the industrial products company’s stock after purchasing an additional 2,047 shares during the quarter. Tdam USA Inc.’s holdings in Ingersoll-Rand were worth $10,102,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc RI grew its position in shares of Ingersoll-Rand by 93.1% in the 4th quarter. Citizens Financial Group Inc RI now owns 1,014 shares of the industrial products company’s stock worth $93,000 after buying an additional 489 shares during the last quarter. Valley National Advisers Inc. grew its position 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 worth $748,000 after buying an additional 726 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of Ingersoll-Rand in the 4th quarter worth approximately $46,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Ingersoll-Rand by 5.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,158 shares of the industrial products company’s stock worth $1,528,000 after buying an additional 756 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Ingersoll-Rand in the 1st quarter worth approximately $1,599,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.
IR has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating and issued a $115.00 price objective on shares of Ingersoll-Rand in a research report on Wednesday, January 23rd. Morgan Stanley set a $120.00 price objective on Ingersoll-Rand and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price objective on the stock in a research report on Tuesday, April 2nd. Bank of America upgraded Ingersoll-Rand from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $130.00 in a research report on Thursday, April 4th. Finally, ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.96.
NYSE:IR traded up $0.06 during trading hours on Monday, reaching $120.88. 20,155 shares of the company traded hands, compared to its average volume of 1,593,921. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.77 and a beta of 1.32. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $125.26. 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 announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.09. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. As a group, equities research analysts predict that Ingersoll-Rand PLC will post 6.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, June 6th. Ingersoll-Rand’s payout ratio is 37.79%.
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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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