Ingersoll-Rand PLC (NYSE:IR) Shares Sold by Colony Group LLC

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Colony Group LLC reduced its position in Ingersoll-Rand PLC (NYSE:IR) by 3.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,261 shares of the industrial products company’s stock after selling 175 shares during the quarter. Colony Group LLC’s holdings in Ingersoll-Rand were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Ingersoll-Rand by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,825,020 shares of the industrial products company’s stock valued at $2,257,896,000 after purchasing an additional 146,948 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Ingersoll-Rand by 19,817.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,759,489 shares of the industrial products company’s stock valued at $729,554,000 after purchasing an additional 5,730,572 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ingersoll-Rand by 23.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,611,762 shares of the industrial products company’s stock valued at $573,471,000 after purchasing an additional 873,152 shares during the last quarter. Bank of America Corp DE raised its stake in Ingersoll-Rand by 7.5% in the 2nd quarter. Bank of America Corp DE now owns 4,346,669 shares of the industrial products company’s stock valued at $550,592,000 after purchasing an additional 301,918 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Ingersoll-Rand by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,068,789 shares of the industrial products company’s stock valued at $515,394,000 after purchasing an additional 497,567 shares during the last quarter. 78.92% of the stock is owned by hedge funds and other institutional investors.

IR has been the subject of several recent research reports. KeyCorp increased their price objective on Ingersoll-Rand from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stephens downgraded Ingersoll-Rand from an “overweight” rating to an “equal” rating in a research note on Monday, October 7th. Barclays reissued a “buy” rating and issued a $134.00 price objective on shares of Ingersoll-Rand in a research note on Friday, October 4th. Deutsche Bank downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating and cut their target price for the stock from $137.00 to $135.00 in a research note on Tuesday, October 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut their target price on Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $135.25.

Shares of IR opened at $131.11 on Monday. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $132.42. The company has a market capitalization of $31.57 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The stock has a fifty day simple moving average of $125.13 and a two-hundred day simple moving average of $122.79. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.68.

Ingersoll-Rand (NYSE:IR) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.08. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.38%. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $1.75 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Ingersoll-Rand PLC will post 6.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 5th. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.

In other news, SVP Marcia J. Avedon sold 7,450 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $129.00, for a total transaction of $961,050.00. Following the completion of the transaction, the senior vice president now directly owns 99,075 shares in the company, valued at approximately $12,780,675. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Keith A. Sultana sold 7,010 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total value of $876,250.00. Following the transaction, the senior vice president now owns 19,608 shares of the company’s stock, valued at $2,451,000. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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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