Principal Financial Group Inc. Has $64.42 Million Position in Ingersoll-Rand PLC (Ireland) (IR)

Principal Financial Group Inc. increased its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 22.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 792,241 shares of the industrial products company’s stock after buying an additional 144,405 shares during the period. Principal Financial Group Inc. owned approximately 0.31% of Ingersoll-Rand PLC (Ireland) worth $64,424,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tradewinds Capital Management LLC boosted its stake in Ingersoll-Rand PLC (Ireland) by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock valued at $137,000 after buying an additional 140 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Ingersoll-Rand PLC (Ireland) by 20.1% in the fourth quarter. Bessemer Group Inc. now owns 1,693 shares of the industrial products company’s stock worth $127,000 after buying an additional 283 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Ingersoll-Rand PLC (Ireland) during the fourth quarter valued at about $137,000. Penserra Capital Management LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 9.5% in the first quarter. Penserra Capital Management LLC now owns 2,392 shares of the industrial products company’s stock valued at $194,000 after buying an additional 208 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Ingersoll-Rand PLC (Ireland) during the first quarter valued at about $201,000. 82.56% of the stock is currently owned by hedge funds and other institutional investors.

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

Ingersoll-Rand PLC (NYSE:IR) traded down 1.39% during trading on Tuesday, reaching $91.30. 562,171 shares of the company were exchanged. The company’s 50-day moving average price is $89.14 and its 200-day moving average price is $82.10. The stock has a market capitalization of $23.37 billion, a P/E ratio of 16.59 and a beta of 1.30. Ingersoll-Rand PLC has a 1-year low of $59.10 and a 1-year high of $93.17.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Ingersoll-Rand PLC (Ireland) had a net margin of 10.58% and a return on equity of 16.44%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Ingersoll-Rand PLC will post $4.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, June 7th. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is currently 29.09%.

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IR has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $90.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a research note on Friday, March 31st. Zacks Investment Research cut shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Wells Fargo & Co raised shares of Ingersoll-Rand PLC (Ireland) from a “market perform” rating to an “outperform” rating in a research report on Monday, March 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $87.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, April 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $93.33.

In related news, insider Paul A. Camuti sold 6,960 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $89.90, for a total value of $625,704.00. Following the completion of the sale, the insider now owns 64,979 shares of the company’s stock, valued at $5,841,612.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marcia J. Avedon sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $89.53, for a total transaction of $895,300.00. Following the completion of the sale, the insider now directly owns 118,297 shares of the company’s stock, valued at approximately $10,591,130.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,943 shares of company stock valued at $1,967,606. Company insiders own 0.65% of the company’s stock.

About Ingersoll-Rand PLC (Ireland)

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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