Royal Bank of Canada trimmed its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 735,379 shares of the industrial products company’s stock after selling 96,112 shares during the quarter. Royal Bank of Canada owned 0.30% of Ingersoll-Rand worth $62,884,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. United Capital Financial Advisers LLC lifted its position in shares of Ingersoll-Rand by 7.1% during the first quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock worth $735,000 after purchasing an additional 571 shares during the last quarter. Sentry Investment Management LLC raised its holdings in shares of Ingersoll-Rand by 3.3% in the first quarter. Sentry Investment Management LLC now owns 18,486 shares of the industrial products company’s stock valued at $1,581,000 after acquiring an additional 595 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Ingersoll-Rand by 20.5% in the first quarter. River Road Asset Management LLC now owns 3,644 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 621 shares in the last quarter. BB&T Securities LLC raised its holdings in shares of Ingersoll-Rand by 0.4% in the fourth quarter. BB&T Securities LLC now owns 155,136 shares of the industrial products company’s stock valued at $13,836,000 after acquiring an additional 626 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Ingersoll-Rand by 4.2% in the first quarter. Meeder Asset Management Inc. now owns 16,333 shares of the industrial products company’s stock valued at $1,396,000 after acquiring an additional 651 shares in the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Wednesday. Cowen assumed coverage on Ingersoll-Rand in a report on Tuesday. They issued an “outperform” rating and a $111.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating and issued a $94.00 price objective on shares of Ingersoll-Rand in a report on Wednesday, April 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $104.50.
Shares of IR stock opened at $90.76 on Friday. Ingersoll-Rand PLC has a fifty-two week low of $79.63 and a fifty-two week high of $97.67. The stock has a market cap of $22.28 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.99 and a current ratio of 1.41.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.08. Ingersoll-Rand had a return on equity of 17.03% and a net margin of 8.96%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. sell-side analysts predict that Ingersoll-Rand PLC will post 5.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a dividend of $0.53 per share. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.34%. Ingersoll-Rand’s payout ratio is presently 39.91%.
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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