NuWave Investment Management LLC Purchases 2,862 Shares of Ingersoll-Rand PLC (NYSE:IR)
NuWave Investment Management LLC grew its position in Ingersoll-Rand PLC (NYSE:IR) by 2,059.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,001 shares of the industrial products company’s stock after purchasing an additional 2,862 shares during the quarter. NuWave Investment Management LLC’s holdings in Ingersoll-Rand were worth $380,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of IR. WP Advisors LLC bought a new stake in shares of Ingersoll-Rand in the 1st quarter valued at $34,000. AdvisorNet Financial Inc boosted its stake in Ingersoll-Rand by 92.2% during the second quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 141 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in Ingersoll-Rand during the first quarter worth $38,000. Harvest Group Wealth Management LLC bought a new position in Ingersoll-Rand during the first quarter worth $58,000. Finally, Truvestments Capital LLC bought a new position in Ingersoll-Rand during the first quarter worth $59,000. 78.43% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on IR. BMO Capital Markets lowered shares of Iamgold from an “outperform” rating to a “market perform” rating in a research note on Monday, May 6th. Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Jefferies Financial Group reissued a “buy” rating on shares of Extended Stay America in a research note on Tuesday, July 2nd. ValuEngine lowered shares of China Southern Airlines from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Finally, Bank of America set a $152.00 target price on shares of Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $124.97.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. Ingersoll-Rand had a net margin of 8.94% and a return on equity of 20.52%. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Ingersoll-Rand PLC will post 6.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s dividend payout ratio (DPR) is 37.79%.
In other news, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now owns 356,238 shares in the company, valued at $44,529,750. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David S. Regnery sold 7,957 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $122.25, for a total transaction of $972,743.25. Following the completion of the sale, the insider now 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. Insiders sold 158,460 shares of company stock worth $19,796,928 over the last ninety days. Insiders own 0.71% of the company’s stock.
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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