State of Alaska Department of Revenue Has $1.28 Million Position in Ingersoll-Rand PLC (Ireland) (NYSE:IR)

State of Alaska Department of Revenue reduced its stake in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,052 shares of the industrial products company’s stock after selling 2,450 shares during the period. State of Alaska Department of Revenue’s holdings in Ingersoll-Rand PLC (Ireland) were worth $1,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. United Capital Financial Advisers LLC boosted its position in Ingersoll-Rand PLC (Ireland) by 2.4% in the first quarter. United Capital Financial Advisers LLC now owns 8,756 shares of the industrial products company’s stock valued at $712,000 after buying an additional 207 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 86.4% in the first quarter. Glen Harbor Capital Management LLC now owns 68,152 shares of the industrial products company’s stock worth $5,542,000 after buying an additional 31,584 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Ingersoll-Rand PLC (Ireland) during the fourth quarter worth about $3,111,000. Cleararc Capital Inc. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,345 shares of the industrial products company’s stock worth $516,000 after buying an additional 55 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Ingersoll-Rand PLC (Ireland) by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,481,935 shares of the industrial products company’s stock worth $1,340,311,000 after buying an additional 288,826 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Ingersoll-Rand PLC (IR) traded up 0.13% during trading on Friday, reaching $85.09. The company had a trading volume of 2,023,511 shares. The firm has a 50-day moving average of $90.37 and a 200-day moving average of $85.57. Ingersoll-Rand PLC has a 1-year low of $62.40 and a 1-year high of $94.39. The stock has a market capitalization of $21.58 billion, a price-to-earnings ratio of 21.12 and a beta of 1.31.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.03. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm posted $1.38 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Ingersoll-Rand PLC will post $4.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, September 7th. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.12%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is currently 39.80%.

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A number of research analysts have weighed in on the company. Stifel Nicolaus increased their target price on Ingersoll-Rand PLC (Ireland) from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research downgraded Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. BMO Capital Markets reiterated a “buy” rating and set a $100.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, May 2nd. UBS AG set a $97.00 target price on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada raised their price target on Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Ingersoll-Rand PLC (Ireland) has an average rating of “Hold” and an average target price of $97.43.

In other Ingersoll-Rand PLC (Ireland) news, EVP Robert Zafari sold 1,483 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $89.59, for a total value of $132,861.97. Following the completion of the sale, the executive vice president now owns 66,944 shares in the company, valued at approximately $5,997,512.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard J. Swift sold 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the sale, the director now owns 65,932 shares of the company’s stock, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,443 shares of company stock valued at $1,292,381. Company insiders own 0.65% of the company’s stock.

Ingersoll-Rand PLC (Ireland) 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.

Institutional Ownership by Quarter for Ingersoll-Rand PLC (Ireland) (NYSE:IR)

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