Country Trust Bank Boosts Holdings in Ingersoll-Rand PLC (IR)

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Country Trust Bank raised its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 247,845 shares of the industrial products company’s stock after acquiring an additional 10,315 shares during the quarter. Country Trust Bank owned approximately 0.10% of Ingersoll-Rand worth $26,755,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc RI boosted 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 purchasing an additional 489 shares in the last quarter. Valley National Advisers Inc. boosted 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 purchasing an additional 726 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of Ingersoll-Rand in the 4th quarter worth approximately $46,000. Rehmann Capital Advisory Group boosted its position in shares of Ingersoll-Rand by 9,536.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 72,657 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 71,903 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Ingersoll-Rand by 3.3% in the 4th quarter. APG Asset Management N.V. now owns 1,007,581 shares of the industrial products company’s stock worth $80,411,000 after purchasing an additional 31,800 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on IR. Zacks Investment Research cut Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp boosted their price target on Ingersoll-Rand from $112.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Bank of America raised Ingersoll-Rand from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $130.00 in a research report on Thursday, April 4th. Barclays boosted their price target on Ingersoll-Rand from $111.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Morgan Stanley set a $120.00 price target on Ingersoll-Rand and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $116.20.

NYSE IR traded down $0.31 during mid-day trading on Wednesday, reaching $113.46. The stock had a trading volume of 12,430 shares, compared to its average volume of 1,212,457. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $114.55. The firm has a market cap of $27.60 billion, a P/E ratio of 20.30, a PEG ratio of 1.69 and a beta of 1.28. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.53.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Ingersoll-Rand had a net margin of 8.54% and a return on equity of 19.78%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Ingersoll-Rand PLC will post 6.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a yield of 1.87%. Ingersoll-Rand’s payout ratio is currently 37.79%.

In other Ingersoll-Rand news, VP Christopher J. Kuehn sold 6,501 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $99.85, for a total transaction of $649,124.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher J. Kuehn sold 5,195 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $109.90, for a total transaction of $570,930.50. Following the sale, the chief accounting officer now owns 25,273 shares of the company’s stock, valued at $2,777,502.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,747 shares of company stock valued at $25,550,072. 0.70% of the stock is owned by company insiders.

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About Ingersoll-Rand

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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