Sciencast Management LP boosted its position in Ingersoll-Rand PLC (NYSE:IR) by 389.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,476 shares of the industrial products company’s stock after purchasing an additional 12,314 shares during the quarter. Ingersoll-Rand comprises about 0.7% of Sciencast Management LP’s holdings, making the stock its 29th largest position. Sciencast Management LP’s holdings in Ingersoll-Rand were worth $1,332,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Calton & Associates Inc. acquired a new position in Ingersoll-Rand in the 4th quarter valued at about $112,000. Synovus Financial Corp acquired a new position in shares of Ingersoll-Rand during the 1st quarter valued at about $118,000. Advisory Services Network LLC increased its stake in shares of Ingersoll-Rand by 61.3% during the 4th quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 680 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Ingersoll-Rand by 140.7% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,793 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Financial Counselors Inc. acquired a new position in shares of Ingersoll-Rand during the 4th quarter valued at about $205,000. 79.57% of the stock is owned by hedge funds and other institutional investors.
IR has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Ingersoll-Rand in a research note on Thursday, February 15th. They set an “overweight” rating and a $111.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $106.00 price objective on shares of Ingersoll-Rand in a research note on Friday, February 16th. Royal Bank of Canada reaffirmed a “hold” rating and set a $99.00 price objective on shares of Ingersoll-Rand in a research note on Tuesday, February 27th. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Finally, Citigroup dropped their price objective on shares of Ingersoll-Rand from $110.00 to $109.00 and set a “buy” rating for the company in a research note on Monday, April 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $103.69.
Shares of NYSE:IR opened at $91.83 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.41 and a quick ratio of 0.99. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $97.67. The stock has a market cap of $23.07 billion, a PE ratio of 20.36, a PEG ratio of 1.60 and a beta of 1.34.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.08. Ingersoll-Rand had a return on equity of 17.03% and a net margin of 8.96%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. sell-side analysts forecast that Ingersoll-Rand PLC will post 5.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Ingersoll-Rand’s previous quarterly dividend of $0.45. Ingersoll-Rand’s payout ratio is presently 39.91%.
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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