Santa Barbara Asset Management LLC Increases Position in Ingersoll-Rand PLC (Ireland) (IR)

Santa Barbara Asset Management LLC lifted its stake in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,226,281 shares of the industrial products company’s stock after purchasing an additional 14,176 shares during the quarter. Santa Barbara Asset Management LLC owned 0.49% of Ingersoll-Rand PLC (Ireland) worth $109,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in IR. JPMorgan Chase & Co. grew its holdings in shares of Ingersoll-Rand PLC (Ireland) by 182.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,926,345 shares of the industrial products company’s stock valued at $1,089,950,000 after purchasing an additional 7,702,903 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Ingersoll-Rand PLC (Ireland) during the 2nd quarter valued at approximately $100,929,000. Janus Henderson Group PLC grew its holdings in shares of Ingersoll-Rand PLC (Ireland) by 2,075.3% during the 2nd quarter. Janus Henderson Group PLC now owns 716,452 shares of the industrial products company’s stock valued at $65,477,000 after purchasing an additional 683,516 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Ingersoll-Rand PLC (Ireland) by 87.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,429,458 shares of the industrial products company’s stock valued at $127,465,000 after purchasing an additional 666,550 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Ingersoll-Rand PLC (Ireland) by 83.0% during the 3rd quarter. APG Asset Management N.V. now owns 1,418,049 shares of the industrial products company’s stock valued at $126,447,000 after purchasing an additional 643,000 shares during the last quarter. 82.87% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, August 24th. Citigroup boosted their target price on shares of Ingersoll-Rand PLC (Ireland) from $98.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Jefferies Group reissued a “buy” rating and set a $105.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday, September 12th. ValuEngine raised shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Morgan Stanley lowered shares of Ingersoll-Rand PLC (Ireland) from an “overweight” rating to an “equal weight” rating and set a $98.00 target price on the stock. in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $99.18.

In other news, insider Marcia J. Avedon sold 10,460 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $94.00, for a total value of $983,240.00. Following the transaction, the insider now owns 111,637 shares in the company, valued at approximately $10,493,878. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul A. Camuti sold 14,097 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $95.00, for a total transaction of $1,339,215.00. Following the completion of the transaction, the senior vice president now owns 66,439 shares in the company, valued at approximately $6,311,705. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

Shares of Ingersoll-Rand PLC (IR) traded down $0.54 during midday trading on Wednesday, hitting $84.58. 2,005,600 shares of the stock were exchanged, compared to its average volume of 1,727,797. The firm has a market cap of $21,268.76, a P/E ratio of 19.61, a P/E/G ratio of 2.05 and a beta of 1.35. Ingersoll-Rand PLC has a 1 year low of $74.35 and a 1 year high of $96.23. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.01. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.71 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.47% and a return on equity of 16.65%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 EPS. sell-side analysts expect that Ingersoll-Rand PLC will post 4.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is currently 44.89%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2017/12/06/santa-barbara-asset-management-llc-increases-position-in-ingersoll-rand-plc-ireland-ir.html.

Ingersoll-Rand PLC (Ireland) 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.

Want to see what other hedge funds are holding IR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingersoll-Rand PLC (Ireland) (NYSE:IR).

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

What are top analysts saying about Ingersoll-Rand PLC (Ireland)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ingersoll-Rand PLC (Ireland) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit