Brown Brothers Harriman & Co. Has $1.06 Million Stake in Ingersoll-Rand PLC (IR)

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Brown Brothers Harriman & Co. lifted its position in Ingersoll-Rand PLC (NYSE:IR) by 262.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,355 shares of the industrial products company’s stock after purchasing an additional 7,500 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Ingersoll-Rand were worth $1,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in Ingersoll-Rand during the 3rd quarter worth about $101,000. Girard Partners LTD. acquired a new position in Ingersoll-Rand during the 3rd quarter worth about $112,000. Flagship Harbor Advisors LLC acquired a new position in Ingersoll-Rand during the 2nd quarter worth about $106,000. Fort L.P. acquired a new position in Ingersoll-Rand during the 2nd quarter worth about $121,000. Finally, Hartford Financial Management Inc. acquired a new position in Ingersoll-Rand during the 2nd quarter worth about $149,000. 79.62% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll-Rand stock opened at $94.58 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.41. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $107.08. The stock has a market cap of $23.02 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28.

Ingersoll-Rand (NYSE:IR) last released its earnings results on Wednesday, October 24th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Ingersoll-Rand had a net margin of 10.03% and a return on equity of 18.75%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the company posted $1.44 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Ingersoll-Rand PLC will post 5.58 earnings per share for the current year.

Ingersoll-Rand declared that its board has initiated a share repurchase plan on Wednesday, October 3rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.24%. Ingersoll-Rand’s payout ratio is presently 47.01%.

Several brokerages recently issued reports on IR. Robert W. Baird set a $106.00 price target on shares of Ingersoll-Rand and gave the stock a “hold” rating in a research report on Thursday, October 25th. Cowen reiterated a “buy” rating and set a $115.00 price target on shares of Ingersoll-Rand in a research report on Monday, September 10th. Stephens began coverage on shares of Ingersoll-Rand in a research report on Monday, November 19th. They set an “overweight” rating and a $118.00 price target on the stock. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Finally, JPMorgan Chase & Co. upgraded shares of Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a research report on Friday, September 21st. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Ingersoll-Rand has a consensus rating of “Buy” and a consensus price target of $110.43.

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About Ingersoll-Rand

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

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