Commerce Bank lessened its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 28.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,987 shares of the industrial products company’s stock after selling 103,733 shares during the period. Commerce Bank owned about 0.13% of Ingersoll-Rand worth $6,473,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Savior LLC acquired a new position in shares of Ingersoll-Rand in the 4th quarter valued at about $25,000. Advisory Alpha LLC increased its holdings in shares of Ingersoll-Rand by 1,328.6% in the 4th quarter. Advisory Alpha LLC now owns 200 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 186 shares during the period. Ameritas Investment Company LLC increased its holdings in shares of Ingersoll-Rand by 474.4% in the 4th quarter. Ameritas Investment Company LLC now owns 247 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 204 shares during the period. Solstein Capital LLC acquired a new position in shares of Ingersoll-Rand in the 4th quarter valued at about $40,000. Finally, Citizens Financial Group Inc RI increased its holdings in shares of Ingersoll-Rand by 380.0% in the 4th quarter. Citizens Financial Group Inc RI now owns 360 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 285 shares during the period.
Shares of IR stock opened at $28.54 on Friday. Ingersoll-Rand PLC has a 12 month low of $17.01 and a 12 month high of $38.96. The firm has a market cap of $12.25 billion, a PE ratio of 71.35, a price-to-earnings-growth ratio of 370.87 and a beta of 1.50. The stock has a 50 day moving average of $26.95 and a 200-day moving average of $92.49. The company has a quick ratio of 1.32, a current ratio of 2.11 and a debt-to-equity ratio of 0.39.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, May 12th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Ingersoll-Rand had a return on equity of 2.12% and a net margin of 2.86%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was down 63.6% compared to the same quarter last year. As a group, equities analysts predict that Ingersoll-Rand PLC will post 0.01 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on IR shares. Barclays reiterated a “buy” rating and issued a $32.00 target price on shares of Ingersoll-Rand in a report on Wednesday, May 13th. Wells Fargo & Co boosted their price target on Ingersoll-Rand from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Deutsche Bank cut Ingersoll-Rand from a “buy” rating to a “hold” rating and boosted their price target for the company from $28.00 to $29.00 in a research note on Tuesday, May 12th. ValuEngine raised Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus lowered their price target on Ingersoll-Rand from $38.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.61.
In related news, insider Andrew R. Schiesl sold 65,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $25.14, for a total value of $1,634,100.00. Following the completion of the transaction, the insider now directly owns 76,966 shares in the company, valued at $1,934,925.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand Company 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.
Featured Article: What are the components of an earnings report?
Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.