Amundi Pioneer Asset Management Inc. cut its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782,796 shares of the industrial products company’s stock after selling 66,273 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.74% of Ingersoll-Rand worth $192,453,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in Ingersoll-Rand by 8,911.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock valued at $27,000 after buying an additional 2,413,413 shares in the last quarter. Resources Investment Advisors Inc. acquired a new stake in Ingersoll-Rand in the 4th quarter valued at $27,000. Capital Financial Planning LLC acquired a new stake in Ingersoll-Rand in the 4th quarter valued at $32,000. WP Advisors LLC acquired a new stake in Ingersoll-Rand in the 1st quarter valued at $34,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Ingersoll-Rand in the 1st quarter valued at $38,000. 78.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of IR stock traded up $2.32 on Friday, reaching $126.67. 2,956,664 shares of the stock were exchanged, compared to its average volume of 1,322,661. The company has a market capitalization of $29.99 billion, a PE ratio of 22.58, a PEG ratio of 1.82 and a beta of 1.28. Ingersoll-Rand PLC has a one year low of $85.15 and a one year high of $127.08. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average price is $122.65.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.12 dividend on an annualized basis and a yield of 1.67%. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.
Several analysts recently commented on IR shares. Deutsche Bank started coverage on Ingersoll-Rand in a research note on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price target on the stock. Wells Fargo & Co downgraded Ingersoll-Rand from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $110.00 to $113.00 in a research report on Monday, March 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Tuesday, April 2nd. Barclays lifted their price objective on Ingersoll-Rand from $111.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Bank of America upgraded Ingersoll-Rand from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $130.00 in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Ingersoll-Rand presently has an average rating of “Buy” and a consensus target price of $123.96.
In other Ingersoll-Rand news, insider David S. Regnery sold 7,957 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the completion of the transaction, the insider now directly owns 58,735 shares of the company’s stock, valued at $7,180,353.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher J. Kuehn sold 5,195 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $109.90, for a total value of $570,930.50. Following the completion of the transaction, the chief accounting officer now directly owns 25,273 shares of the company’s stock, valued at $2,777,502.70. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.
Featured Story: Blue-Chip Stocks
Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.