Stifel Financial Corp cut its holdings in Ingersoll-Rand PLC (NYSE:IR) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,278 shares of the industrial products company’s stock after selling 16,831 shares during the quarter. Stifel Financial Corp’s holdings in Ingersoll-Rand were worth $11,117,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Ingersoll-Rand by 0.8% in the second quarter. Vanguard Group Inc. now owns 17,825,020 shares of the industrial products company’s stock worth $2,257,896,000 after purchasing an additional 146,948 shares in the last quarter. State Street Corp raised its holdings in Ingersoll-Rand by 6.8% in the third quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock worth $1,339,015,000 after purchasing an additional 688,390 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Ingersoll-Rand by 19,817.3% in the second quarter. Nuveen Asset Management LLC now owns 5,759,489 shares of the industrial products company’s stock worth $729,554,000 after purchasing an additional 5,730,572 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ingersoll-Rand by 23.4% in the second quarter. JPMorgan Chase & Co. now owns 4,611,762 shares of the industrial products company’s stock worth $573,471,000 after purchasing an additional 873,152 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Ingersoll-Rand by 7.5% in the second quarter. Bank of America Corp DE now owns 4,346,669 shares of the industrial products company’s stock worth $550,592,000 after purchasing an additional 301,918 shares in the last quarter. 78.92% of the stock is owned by institutional investors.

In related news, SVP Marcia J. Avedon sold 7,450 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $129.00, for a total value of $961,050.00. Following the transaction, the senior vice president now owns 99,075 shares in the company, valued at approximately $12,780,675. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Keith A. Sultana sold 7,010 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $125.00, for a total transaction of $876,250.00. Following the completion of the transaction, the senior vice president now owns 19,608 shares in the company, valued at approximately $2,451,000. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

IR opened at $129.29 on Tuesday. Ingersoll-Rand PLC has a 52-week low of $85.15 and a 52-week high of $132.42. The company has a quick ratio of 0.88, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The company has a market cap of $31.41 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The firm’s 50-day moving average price is $126.07 and its 200-day moving average price is $122.93.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a net margin of 8.38% and a return on equity of 21.72%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Ingersoll-Rand PLC will post 6.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.12 annualized dividend and a yield of 1.64%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 37.79%.

Several research firms have recently issued reports on IR. KeyCorp upped their price objective on shares of Ingersoll-Rand from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Stephens downgraded shares of Ingersoll-Rand from an “overweight” rating to an “equal” rating in a report on Monday, October 7th. Barclays restated a “buy” rating and set a $134.00 price objective on shares of Ingersoll-Rand in a report on Friday, October 4th. Finally, Cowen restated a “buy” rating and set a $131.00 price objective on shares of Ingersoll-Rand in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $135.25.

About Ingersoll-Rand

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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