Burney Co. Cuts Holdings in Ingersoll-Rand PLC (NYSE:IR)

Burney Co. decreased its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,624 shares of the industrial products company’s stock after selling 145 shares during the quarter. Burney Co.’s holdings in Ingersoll-Rand were worth $499,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IR. Norges Bank acquired a new stake in Ingersoll-Rand during the 4th quarter valued at $360,951,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Ingersoll-Rand by 8,911.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock worth $27,000 after buying an additional 2,413,413 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Ingersoll-Rand by 5.0% during the fourth quarter. BlackRock Inc. now owns 18,815,633 shares of the industrial products company’s stock worth $1,716,550,000 after buying an additional 901,225 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Ingersoll-Rand by 290.8% during the first quarter. First Trust Advisors LP now owns 547,727 shares of the industrial products company’s stock worth $59,127,000 after buying an additional 407,571 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Ingersoll-Rand by 29.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,392,864 shares of the industrial products company’s stock worth $127,071,000 after buying an additional 315,200 shares in the last quarter. 78.77% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE IR opened at $124.35 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. Ingersoll-Rand PLC has a 52 week low of $85.15 and a 52 week high of $127.08. The firm has a market capitalization of $29.90 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.82 and a beta of 1.28.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the business earned $0.70 earnings per share. Ingersoll-Rand’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Ingersoll-Rand PLC will post 6.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, September 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.

In related news, CAO Christopher J. Kuehn sold 5,195 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $109.90, for a total value of $570,930.50. Following the transaction, the chief accounting officer now owns 25,273 shares in the company, valued at $2,777,502.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David S. Regnery sold 7,957 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the completion of the transaction, the insider now owns 58,735 shares in the company, valued at approximately $7,180,353.75. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on IR. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Monday, May 6th. BMO Capital Markets lifted their target price on Ingersoll-Rand from $112.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Co lifted their target price on Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 target price for the company in a report on Wednesday, May 1st. Finally, KeyCorp lifted their target price on Ingersoll-Rand from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $123.96.

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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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