Farmers Trust Co. Boosts Position in Ingersoll-Rand PLC (IR)
Farmers Trust Co. increased its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 19.0% during the third quarter, Holdings Channel reports. The fund owned 65,974 shares of the company’s stock after buying an additional 10,544 shares during the period. Ingersoll-Rand PLC comprises approximately 1.5% of Farmers Trust Co.’s investment portfolio, making the stock its 25th largest position. Farmers Trust Co.’s holdings in Ingersoll-Rand PLC were worth $4,482,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Douglass Winthrop Advisors LLC raised its position in Ingersoll-Rand PLC by 74.5% in the second quarter. Douglass Winthrop Advisors LLC now owns 13,084 shares of the company’s stock valued at $833,000 after buying an additional 5,584 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in Ingersoll-Rand PLC by 76.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,565 shares of the company’s stock valued at $291,000 after buying an additional 1,980 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Ingersoll-Rand PLC during the second quarter valued at $295,000. Nisa Investment Advisors LLC raised its position in Ingersoll-Rand PLC by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 39,845 shares of the company’s stock valued at $2,537,000 after buying an additional 3,795 shares during the last quarter. Finally, Boys Arnold & Co. Inc. raised its position in Ingersoll-Rand PLC by 272.2% in the second quarter. Boys Arnold & Co. Inc. now owns 21,400 shares of the company’s stock valued at $1,363,000 after buying an additional 15,650 shares during the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.
Ingersoll-Rand PLC (NYSE:IR) traded down 0.69% during mid-day trading on Wednesday, hitting $74.54. The stock had a trading volume of 1,999,620 shares. The firm’s 50-day moving average price is $69.87 and its 200-day moving average price is $67.07. The stock has a market cap of $19.26 billion, a PE ratio of 12.93 and a beta of 1.32. Ingersoll-Rand PLC has a 1-year low of $47.08 and a 1-year high of $76.45.
Ingersoll-Rand PLC (NYSE:IR) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The firm earned $3.57 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Ingersoll-Rand PLC had a net margin of 11.21% and a return on equity of 17.70%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, equities analysts expect that Ingersoll-Rand PLC will post $4.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Ingersoll-Rand PLC’s previous quarterly dividend of $0.32. Ingersoll-Rand PLC’s payout ratio is 22.22%.
Several equities research analysts have issued reports on IR shares. Buckingham Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. Zacks Investment Research downgraded Ingersoll-Rand PLC from a “buy” rating to a “hold” rating in a report on Friday, November 11th. KeyCorp restated a “hold” rating on shares of Ingersoll-Rand PLC in a report on Monday, October 10th. Royal Bank Of Canada increased 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. Finally, Jefferies Group restated a “buy” rating on shares of Ingersoll-Rand PLC in a report on Wednesday, August 3rd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.41.
In other Ingersoll-Rand PLC news, EVP Didier P. Teirlinck sold 28,117 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $67.51, for a total transaction of $1,898,178.67. Following the completion of the transaction, the executive vice president now owns 135,532 shares in the company, valued at approximately $9,149,765.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $67.99, for a total transaction of $142,779.00. Following the transaction, the director now 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. 0.65% of the stock is currently owned by corporate insiders.
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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