Ingersoll-Rand PLC (IR) Shares Sold by Standard Life Investments LTD
Standard Life Investments LTD decreased its stake in Ingersoll-Rand PLC (NYSE:IR) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 1,194,112 shares of the company’s stock after selling 32,782 shares during the period. Standard Life Investments LTD’s holdings in Ingersoll-Rand PLC were worth $76,035,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. UBS Group AG raised its stake in shares of Ingersoll-Rand PLC by 9.5% in the first quarter. UBS Group AG now owns 780,103 shares of the company’s stock valued at $48,375,000 after buying an additional 67,878 shares during the period. BB&T Securities LLC raised its stake in shares of Ingersoll-Rand PLC by 178.2% in the first quarter. BB&T Securities LLC now owns 10,600 shares of the company’s stock valued at $657,000 after buying an additional 6,790 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Ingersoll-Rand PLC by 7.3% in the first quarter. Canada Pension Plan Investment Board now owns 72,879 shares of the company’s stock valued at $4,519,000 after buying an additional 4,929 shares during the period. Credit Agricole S A raised its stake in shares of Ingersoll-Rand PLC by 77.9% in the first quarter. Credit Agricole S A now owns 612,815 shares of the company’s stock valued at $38,003,000 after buying an additional 268,409 shares during the period. Finally, Wunderlich Capital Managemnt raised its stake in shares of Ingersoll-Rand PLC by 3.2% in the first quarter. Wunderlich Capital Managemnt now owns 22,107 shares of the company’s stock valued at $1,371,000 after buying an additional 676 shares during the period. 80.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 1.11% during mid-day trading on Tuesday, reaching $66.99. 1,701,102 shares of the company were exchanged. The firm’s 50-day moving average is $66.52 and its 200-day moving average is $65.27. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 12.33 and a beta of 1.26. Ingersoll-Rand PLC has a 12 month low of $47.08 and a 12 month high of $68.97.
Ingersoll-Rand PLC (NYSE:IR) last issued its earnings results on Wednesday, July 27th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.08. The firm earned $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Ingersoll-Rand PLC had a net margin of 10.71% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that Ingersoll-Rand PLC will post $4.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Wednesday, September 7th. Ingersoll-Rand PLC’s dividend payout ratio is 23.53%.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Ingersoll-Rand PLC from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets started coverage on Ingersoll-Rand PLC in a research note on Wednesday, July 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Ingersoll-Rand PLC in a research note on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $72.00 target price on shares of Ingersoll-Rand PLC in a research note on Sunday, July 10th. Finally, 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 research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Ingersoll-Rand PLC currently has an average rating of “Buy” and a consensus price target of $67.94.
In related news, SVP Keith A. Sultana sold 3,071 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $68.81, for a total value of $211,315.51. Following the completion of the transaction, the senior vice president now owns 10,698 shares of the company’s stock, valued at approximately $736,129.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcia J. Avedon sold 5,815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $68.17, for a total transaction of $396,408.55. Following the completion of the transaction, the insider now directly owns 117,192 shares of the company’s stock, valued at approximately $7,988,978.64. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate 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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