IBM Retirement Fund Lowers Stake in Ingersoll-Rand PLC (IR)
IBM Retirement Fund reduced its position in Ingersoll-Rand PLC (NYSE:IR) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,761 shares of the industrial products company’s stock after selling 744 shares during the period. IBM Retirement Fund’s holdings in Ingersoll-Rand were worth $427,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI purchased a new stake in Ingersoll-Rand during the first quarter worth $420,000. D.A. Davidson & CO. lifted its holdings in shares of Ingersoll-Rand by 77.2% during the 1st quarter. D.A. Davidson & CO. now owns 11,523 shares of the industrial products company’s stock valued at $985,000 after purchasing an additional 5,022 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Ingersoll-Rand by 1.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,004 shares of the industrial products company’s stock valued at $6,499,000 after purchasing an additional 1,247 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ingersoll-Rand by 2.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 154,216 shares of the industrial products company’s stock valued at $13,189,000 after purchasing an additional 3,070 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of Ingersoll-Rand by 73.4% in the 1st quarter. State of Wisconsin Investment Board now owns 387,731 shares of the industrial products company’s stock valued at $33,155,000 after acquiring an additional 164,145 shares during the period. Institutional investors own 80.13% of the company’s stock.
In related news, Director Jared L. Cohon sold 2,663 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the completion of the sale, the director now directly owns 24,153 shares of the company’s stock, valued at $2,350,086.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Paul A. Camuti sold 1,800 shares of the business’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $95.00, for a total transaction of $171,000.00. Following the completion of the sale, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at $5,632,550. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,561 shares of company stock valued at $2,563,616. Insiders own 0.70% of the company’s stock.
Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.13. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. equities research analysts predict that Ingersoll-Rand PLC will post 5.54 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Cowen reissued a “buy” rating and issued a $115.00 target price on shares of Ingersoll-Rand in a research report on Monday, September 10th. UBS Group increased their price target on Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Morgan Stanley initiated coverage on Ingersoll-Rand in a research report on Monday, August 20th. They set an “overweight” rating and a $111.00 price target on the stock. Barclays increased their price target on Ingersoll-Rand from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. Finally, Argus raised their target price on Ingersoll-Rand from $100.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $109.55.
Ingersoll-Rand Company Profile
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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