Polaris Greystone Financial Group LLC lifted its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 201,582 shares of the industrial products company’s stock after purchasing an additional 3,158 shares during the period. Polaris Greystone Financial Group LLC’s holdings in Ingersoll-Rand were worth $20,622,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Ingersoll-Rand in the second quarter worth $106,000. Fort L.P. purchased a new stake in shares of Ingersoll-Rand in the second quarter worth $121,000. Smithfield Trust Co. raised its position in shares of Ingersoll-Rand by 374.5% in the second quarter. Smithfield Trust Co. now owns 1,376 shares of the industrial products company’s stock worth $123,000 after buying an additional 1,086 shares in the last quarter. CWM LLC raised its position in shares of Ingersoll-Rand by 653.3% in the second quarter. CWM LLC now owns 1,499 shares of the industrial products company’s stock worth $135,000 after buying an additional 1,300 shares in the last quarter. Finally, Hartford Financial Management Inc. purchased a new stake in shares of Ingersoll-Rand in the second quarter worth $149,000. Institutional investors own 79.94% of the company’s stock.
In other news, SVP Paul A. Camuti sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $95.00, for a total transaction of $171,000.00. Following the transaction, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at $5,632,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jared L. Cohon sold 2,663 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the transaction, the director now directly owns 24,153 shares in the company, valued at $2,350,086.90. The disclosure for this sale can be found here. Insiders have sold 36,969 shares of company stock worth $3,646,048 over the last ninety days. Insiders own 0.70% of the company’s stock.
NYSE IR traded down $2.13 during trading hours on Friday, reaching $94.11. 152,518 shares of the stock traded hands, compared to its average volume of 1,604,733. Ingersoll-Rand PLC has a 1 year low of $79.63 and a 1 year high of $105.76. The company has a quick ratio of 0.93, a current ratio of 1.30 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.52 and a beta of 1.31.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.13. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the business posted $1.49 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts expect that Ingersoll-Rand PLC will post 5.54 earnings per share for the current fiscal year.
Ingersoll-Rand declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 3rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.25%. Ingersoll-Rand’s dividend payout ratio (DPR) is currently 47.01%.
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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