Janus Henderson Group PLC grew its position in Ingersoll-Rand PLC (NYSE:IR) by 100.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,741 shares of the industrial products company’s stock after purchasing an additional 68,672 shares during the quarter. Janus Henderson Group PLC’s holdings in Ingersoll-Rand were worth $14,761,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in Ingersoll-Rand by 8,911.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,440,494 shares of the industrial products company’s stock worth $27,000 after buying an additional 2,413,413 shares in the last quarter. Resources Investment Advisors Inc. acquired a new position in Ingersoll-Rand during the 4th quarter worth about $27,000. Legacy Financial Advisors Inc. lifted its position in Ingersoll-Rand by 78.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 312 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares in the last quarter. Ruggie Capital Group acquired a new position in Ingersoll-Rand during the 4th quarter worth about $28,000. Finally, Capital Financial Planning LLC acquired a new position in Ingersoll-Rand during the 4th quarter worth about $32,000. 81.51% of the stock is currently owned by institutional investors.
In other Ingersoll-Rand news, CAO Christopher J. Kuehn sold 5,195 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $109.90, for a total transaction of $570,930.50. Following the completion of the transaction, the chief accounting officer now owns 25,273 shares of the company’s stock, valued at approximately $2,777,502.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David S. Regnery sold 7,957 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $122.25, for a total value of $972,743.25. Following the transaction, the insider now directly owns 58,735 shares of the company’s stock, valued at approximately $7,180,353.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,760 shares of company stock valued at $23,276,480. 0.70% of the stock is owned by company insiders.
Ingersoll-Rand (NYSE:IR) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business earned $0.70 EPS. Ingersoll-Rand’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ingersoll-Rand PLC will post 6.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.12 dividend on an annualized basis and a yield of 1.75%. Ingersoll-Rand’s payout ratio is 37.79%.
Several analysts have weighed in on IR shares. Credit Suisse Group reissued an “outperform” rating and set a $115.00 price objective (up from $108.00) on shares of Ingersoll-Rand in a report on Thursday, January 31st. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $138.00 price target for the company in a research note on Monday. BMO Capital Markets upped their price target on Ingersoll-Rand from $112.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Co upped their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank began coverage on Ingersoll-Rand in a research note on Wednesday, March 13th. They issued a “hold” rating and a $107.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $123.96.
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.
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