Tower Research Capital LLC TRC Has $322,000 Position in Ingersoll-Rand PLC (IR)
Tower Research Capital LLC TRC boosted its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 1,834.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,049 shares of the company’s stock after buying an additional 4,788 shares during the period. Tower Research Capital LLC TRC’s holdings in Ingersoll-Rand PLC were worth $322,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Ingersoll-Rand PLC by 1.7% in the second quarter. Vanguard Group Inc. now owns 15,011,170 shares of the company’s stock valued at $955,911,000 after buying an additional 244,964 shares in the last quarter. Boston Partners increased its stake in Ingersoll-Rand PLC by 6.8% in the second quarter. Boston Partners now owns 4,844,683 shares of the company’s stock worth $308,509,000 after buying an additional 310,230 shares in the last quarter. American Century Companies Inc. increased its stake in Ingersoll-Rand PLC by 3.0% in the second quarter. American Century Companies Inc. now owns 4,676,382 shares of the company’s stock worth $297,792,000 after buying an additional 134,737 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Ingersoll-Rand PLC by 39.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,647,905 shares of the company’s stock worth $226,207,000 after buying an additional 1,030,689 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Ingersoll-Rand PLC by 7.3% in the first quarter. BlackRock Group LTD now owns 2,840,507 shares of the company’s stock worth $176,140,000 after buying an additional 192,323 shares in the last quarter. 81.02% of the stock is owned by institutional investors and hedge funds.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 64.02 on Tuesday. Ingersoll-Rand PLC has a one year low of $47.08 and a one year high of $68.97. The company’s 50-day moving average price is $66.91 and its 200-day moving average price is $64.70. The stock has a market cap of $16.52 billion, a PE ratio of 11.79 and a beta of 1.35.
Ingersoll-Rand PLC (NYSE:IR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (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 earned $3.69 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. Ingersoll-Rand PLC’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Ingersoll-Rand PLC will post $4.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio is presently 23.53%.
IR has been the subject of a number of research reports. Credit Suisse Group AG reissued a “buy” rating and set a $72.00 target price on shares of Ingersoll-Rand PLC in a report on Sunday, July 10th. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a report on Thursday, July 28th. Stifel Nicolaus dropped their target price on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Zacks Investment Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, BMO Capital Markets initiated coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They set an “outperform” rating and a $80.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Ingersoll-Rand PLC has an average rating of “Buy” and an average target price of $67.94.
In other news, Director Richard J. Swift sold 2,100 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total value of $142,779.00. Following the transaction, the director now directly owns 66,648 shares in the company, valued at $4,531,397.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marcia J. Avedon sold 5,815 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $68.17, for a total value of $396,408.55. Following the completion of the transaction, the insider now owns 117,192 shares in the company, valued at $7,988,978.64. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
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.
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