Insider Selling: Ingersoll-Rand PLC (IR) Director Sells 2,350 Shares of Stock
Ingersoll-Rand PLC (NYSE:IR) Director Jared L. Cohon sold 2,350 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total transaction of $217,140.00. Following the completion of the transaction, the director now owns 25,766 shares in the company, valued at approximately $2,380,778.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Ingersoll-Rand PLC (NYSE IR) opened at $89.16 on Monday. Ingersoll-Rand PLC has a 52-week low of $77.26 and a 52-week high of $97.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.95 and a current ratio of 1.27. The stock has a market cap of $22,278.22, a PE ratio of 19.73, a P/E/G ratio of 1.91 and a beta of 1.33.
Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.01). Ingersoll-Rand had a net margin of 9.17% and a return on equity of 16.91%. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. Ingersoll-Rand’s quarterly revenue was up 7.7% compared to the same quarter last year. research analysts forecast that Ingersoll-Rand PLC will post 5.17 EPS for the current fiscal year.
A number of equities analysts have issued reports on IR shares. Zacks Investment Research upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Monday, January 22nd. Bank of America cut shares of Ingersoll-Rand from a “buy” rating to a “neutral” rating and set a $96.00 price objective on the stock. in a research report on Tuesday, October 17th. UBS Group started coverage on shares of Ingersoll-Rand in a research report on Monday, January 22nd. They issued a “buy” rating and a $105.00 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of Ingersoll-Rand in a research report on Sunday, November 19th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Ingersoll-Rand in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $102.92.
A number of institutional investors and hedge funds have recently made changes to their positions in IR. Calton & Associates Inc. purchased a new stake in Ingersoll-Rand in the fourth quarter worth about $112,000. Advisory Services Network LLC grew its holdings in Ingersoll-Rand by 19.5% in the second quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 213 shares during the period. Resources Investment Advisors Inc. grew its holdings in Ingersoll-Rand by 218.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 929 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Ingersoll-Rand in the third quarter worth about $152,000. Finally, Bessemer Group Inc. grew its holdings in Ingersoll-Rand by 185.5% in the third quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 1,278 shares during the period. Institutional investors and hedge funds own 81.71% of the company’s stock.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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