Independence Bank of Kentucky trimmed its stake in Ingersoll-Rand PLC (NYSE:IR) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,045 shares of the industrial products company’s stock after selling 345 shares during the quarter. Independence Bank of Kentucky’s holdings in Ingersoll-Rand were worth $512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IR. WP Advisors LLC bought a new position in shares of Ingersoll-Rand during the 1st quarter worth approximately $34,000. AdvisorNet Financial Inc boosted its stake in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 141 shares during the period. Financial Gravity Wealth Inc. bought a new position in shares of Ingersoll-Rand during the 1st quarter worth approximately $38,000. Harvest Group Wealth Management LLC bought a new position in shares of Ingersoll-Rand during the 1st quarter worth approximately $58,000. Finally, Truvestments Capital LLC bought a new position in shares of Ingersoll-Rand during the 1st quarter worth approximately $59,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.

Several research analysts have recently commented on the company. Wells Fargo & Co reduced their target price on WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. KeyCorp reiterated a “hold” rating on shares of Clearwater Paper in a research note on Wednesday, May 1st. Deutsche Bank downgraded Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price for the company. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, ValuEngine downgraded China Southern Airlines from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $124.97.

IR traded up $0.05 during trading on Monday, hitting $122.63. The stock had a trading volume of 23,174 shares, compared to its average volume of 1,208,555. The stock has a 50 day simple moving average of $125.05. The company has a market capitalization of $29.56 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. Ingersoll-Rand PLC has a one year low of $85.15 and a one year high of $128.31. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.50 billion. Ingersoll-Rand had a return on equity of 20.52% and a net margin of 8.94%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. As a group, sell-side analysts expect that Ingersoll-Rand PLC will post 6.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.53 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.12 annualized dividend and a yield of 1.73%. Ingersoll-Rand’s dividend payout ratio is presently 37.79%.

In other Ingersoll-Rand news, CEO Michael W. Lamach sold 146,733 shares of Ingersoll-Rand stock in a transaction on Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the transaction, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan M. Turtz sold 3,770 shares of Ingersoll-Rand stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now directly owns 15,549 shares of the company’s stock, valued at $1,990,272. The disclosure for this sale can be found here. Insiders sold a total of 158,460 shares of company stock valued at $19,796,928 over the last ninety days. Insiders own 0.71% of the company’s stock.

Ingersoll-Rand Company Profile

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

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