First Citizens Bank & Trust Co. lowered its position in Ingersoll-Rand PLC (NYSE:IR) by 34.7% during the second quarter, Holdings Channel reports. The institutional investor owned 18,134 shares of the company’s stock after selling 9,636 shares during the period. First Citizens Bank & Trust Co.’s holdings in Ingersoll-Rand PLC were worth $1,155,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Smith Asset Management Group LP bought a new stake in shares of Ingersoll-Rand PLC during the second quarter worth approximately $187,000. Oakworth Capital Inc. raised its position in shares of Ingersoll-Rand PLC by 2,097.9% in the second quarter. Oakworth Capital Inc. now owns 3,143 shares of the company’s stock valued at $210,000 after buying an additional 3,000 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Ingersoll-Rand PLC during the second quarter valued at about $223,000. M&R Capital Management Inc. acquired a new position in shares of Ingersoll-Rand PLC during the first quarter valued at about $236,000. Finally, Advisor Partners LLC raised its position in shares of Ingersoll-Rand PLC by 4.1% in the first quarter. Advisor Partners LLC now owns 4,078 shares of the company’s stock valued at $253,000 after buying an additional 162 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded up 1.88% during mid-day trading on Wednesday, hitting $66.00. 1,139,406 shares of the stock were exchanged. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $68.97. The stock has a 50 day moving average price of $66.46 and a 200 day moving average price of $65.48. The company has a market capitalization of $17.03 billion, a PE ratio of 12.15 and a beta of 1.26.
Ingersoll-Rand PLC (NYSE:IR) last announced its earnings results on Wednesday, July 27th. The company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a return on equity of 17.73% and a net margin of 10.71%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 2.47%. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
Several research analysts have recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of Ingersoll-Rand PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. KeyCorp reaffirmed a “hold” rating on shares of Ingersoll-Rand PLC in a research note on Monday. BMO Capital Markets assumed coverage on shares of Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Ingersoll-Rand PLC presently has a consensus rating of “Buy” and an average price target of $68.00.
In related news, insider Marcia J. Avedon sold 5,815 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $68.17, for a total value of $396,408.55. Following the sale, the insider now directly owns 117,192 shares in the company, valued at $7,988,978.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul A. Camuti sold 2,436 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total value of $165,428.76. Following the completion of the sale, the insider now owns 52,240 shares in the company, valued at $3,547,618.40. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
About Ingersoll-Rand PLC
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.