6,919 Shares in Ingersoll-Rand PLC (IR) Acquired by WESPAC Advisors LLC
WESPAC Advisors LLC acquired a new stake in shares of Ingersoll-Rand PLC (NYSE:IR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,919 shares of the company’s stock, valued at approximately $441,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smith Asset Management Group LP purchased a new position in Ingersoll-Rand PLC during the second quarter valued at about $187,000. Oakworth Capital Inc. increased its position in Ingersoll-Rand PLC by 2,097.9% in the second quarter. Oakworth Capital Inc. now owns 3,143 shares of the company’s stock valued at $210,000 after buying an additional 3,000 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in Ingersoll-Rand PLC during the first quarter valued at about $211,000. Fox Run Management L.L.C. purchased a new position in Ingersoll-Rand PLC during the second quarter valued at about $223,000. Finally, M&R Capital Management Inc. purchased a new position in Ingersoll-Rand PLC during the first quarter valued at about $236,000. 80.97% of the stock is owned by institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded up 2.28% during midday trading on Wednesday, reaching $65.52. The company had a trading volume of 1,813,087 shares. The stock has a market capitalization of $16.90 billion, a PE ratio of 12.06 and a beta of 1.35. Ingersoll-Rand PLC has a 12-month low of $47.08 and a 12-month high of $68.97. The company has a 50-day moving average of $66.85 and a 200-day moving average of $64.75.
Ingersoll-Rand PLC (NYSE:IR) last issued its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.08. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand PLC will post $4.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio is 23.53%.
Several research analysts have recently issued reports on IR shares. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Jefferies Group reiterated a “buy” rating on shares of Ingersoll-Rand PLC in a report on Thursday, July 28th. Stifel Nicolaus reduced their target price on Ingersoll-Rand PLC from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Zacks Investment Research cut Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, BMO Capital Markets started coverage on Ingersoll-Rand PLC in a report on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.94.
In related news, insider Paul A. Camuti sold 2,436 shares of Ingersoll-Rand PLC stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $67.91, for a total value of $165,428.76. Following the sale, the insider now owns 52,240 shares in the company, valued at $3,547,618.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Keith A. Sultana sold 3,071 shares of Ingersoll-Rand PLC stock in a transaction on Monday, August 29th. The shares were sold at an average price of $68.81, for a total transaction of $211,315.51. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at approximately $736,129.38. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
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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