Bellecapital International Ltd. grew its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,415 shares of the industrial products company’s stock after purchasing an additional 120 shares during the quarter. Bellecapital International Ltd.’s holdings in Ingersoll-Rand were worth $306,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of IR. Dimensional Fund Advisors LP increased its position in shares of Ingersoll-Rand by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,435,070 shares of the industrial products company’s stock worth $222,163,000 after purchasing an additional 202,534 shares during the period. Geode Capital Management LLC increased its position in shares of Ingersoll-Rand by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,277,339 shares of the industrial products company’s stock worth $298,484,000 after purchasing an additional 300,549 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Ingersoll-Rand in the fourth quarter worth $598,000. Sowell Financial Services LLC bought a new position in shares of Ingersoll-Rand in the fourth quarter worth $290,000. Finally, Private Trust Co. NA bought a new position in shares of Ingersoll-Rand in the first quarter worth $207,000. Institutional investors and hedge funds own 77.97% of the company’s stock.
Shares of IR stock opened at $116.46 on Friday. The business’s 50-day moving average price is $123.39 and its 200-day moving average price is $115.91. Ingersoll-Rand PLC has a 12 month low of $85.15 and a 12 month high of $128.31. The firm has a market capitalization of $28.09 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.65 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is 37.79%.
A number of brokerages recently commented on IR. Wells Fargo & Co raised their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Jefferies Financial Group cut Ingersoll-Rand from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research report on Tuesday, July 2nd. Zacks Investment Research cut Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Cowen reiterated a “buy” rating and issued a $131.00 target price on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Finally, Credit Suisse Group lifted their target price on Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $128.70.
In other news, insider Evan M. Turtz sold 3,770 shares of Ingersoll-Rand stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the sale, the insider now directly owns 15,549 shares of the company’s stock, valued at $1,990,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jared L. Cohon sold 938 shares of Ingersoll-Rand stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $119.07, for a total value of $111,687.66. Following the sale, the director now directly owns 23,697 shares in the company, valued at $2,821,601.79. The disclosure for this sale can be found here. Insiders have sold 151,441 shares of company stock worth $18,935,873 over the last three months. Insiders own 0.70% 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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