Ingersoll-Rand PLC (IR) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 20.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,576,211 shares of the company’s stock after selling 1,144,282 shares during the period. Bank of New York Mellon Corp’s holdings in Ingersoll-Rand PLC were worth $310,907,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Euclid Advisors LLC boosted its position in Ingersoll-Rand PLC by 21.9% in the first quarter. Euclid Advisors LLC now owns 63,328 shares of the company’s stock worth $3,927,000 after buying an additional 11,375 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Ingersoll-Rand PLC by 91.7% in the second quarter. BNP Paribas Arbitrage SA now owns 79,027 shares of the company’s stock worth $5,032,000 after buying an additional 37,811 shares in the last quarter. Raymond James Trust N.A. boosted its position in Ingersoll-Rand PLC by 10.4% in the second quarter. Raymond James Trust N.A. now owns 12,820 shares of the company’s stock worth $816,000 after buying an additional 1,204 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Ingersoll-Rand PLC by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 66,645 shares of the company’s stock worth $4,244,000 after buying an additional 4,109 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Ingersoll-Rand PLC by 1.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 219,940 shares of the company’s stock worth $14,006,000 after buying an additional 2,914 shares in the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 74.73 on Tuesday. The firm has a 50 day moving average price of $69.87 and a 200 day moving average price of $67.07. Ingersoll-Rand PLC has a one year low of $47.08 and a one year high of $76.45. The stock has a market capitalization of $19.31 billion, a PE ratio of 12.97 and a beta of 1.32.
Ingersoll-Rand PLC (NYSE:IR) last released its earnings results on Wednesday, October 26th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.12. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.55 billion. Ingersoll-Rand PLC had a return on equity of 17.70% and a net margin of 11.21%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. Analysts predict that Ingersoll-Rand PLC will post $4.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a dividend of $0.40 per share. This is an increase from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. Ingersoll-Rand PLC’s dividend payout ratio (DPR) is presently 22.22%.
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A number of research analysts recently commented on IR shares. Zacks Investment Research raised Ingersoll-Rand PLC from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Friday, November 18th. Jefferies Group reissued a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, August 3rd. KeyCorp reissued a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Buckingham Research cut Ingersoll-Rand PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. Finally, Royal Bank Of Canada boosted their price target on Ingersoll-Rand PLC from $74.00 to $76.00 and gave the stock a “sector perform” rating in a report on Thursday, October 27th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $69.41.
In other Ingersoll-Rand PLC news, insider Gary S. Michel sold 10,708 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $74.00, for a total transaction of $792,392.00. Following the completion of the sale, the insider now owns 37,005 shares of the company’s stock, valued at $2,738,370. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total value of $142,779.00. Following the sale, the director now directly owns 66,648 shares of the company’s stock, valued at approximately $4,531,397.52. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
Ingersoll-Rand PLC Company Profile
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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