Tocqueville Asset Management L.P. increased its stake in shares of Ingersoll-Rand PLC (NYSE:IR) by 8.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,303 shares of the industrial products company’s stock after purchasing an additional 1,385 shares during the period. Tocqueville Asset Management L.P.’s holdings in Ingersoll-Rand were worth $2,318,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Arrow Financial Corp boosted its position in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 200 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 141 shares during the period. Berman Capital Advisors LLC boosted its position in shares of Ingersoll-Rand by 93.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 316 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 153 shares during the period. Financial Gravity Wealth Inc. purchased a new position in shares of Ingersoll-Rand during the 1st quarter worth approximately $38,000. Finally, Ibex Wealth Advisors purchased a new position in shares of Ingersoll-Rand during the 2nd quarter worth approximately $66,000. 77.97% of the stock is owned by hedge funds and other institutional investors.
Shares of IR opened at $116.29 on Thursday. Ingersoll-Rand PLC has a twelve month low of $85.15 and a twelve month high of $128.31. The firm has a fifty day moving average price of $123.55. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.12 annualized dividend and a yield of 1.82%. Ingersoll-Rand’s dividend payout ratio is currently 37.79%.
Several equities analysts have commented on IR shares. Zacks Investment Research cut shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Deutsche Bank raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target for the company in a research report on Wednesday, May 1st. ValuEngine cut shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group raised their price target on shares of Ingersoll-Rand from $138.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, KeyCorp raised their price target on shares of Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $128.70.
In other Ingersoll-Rand news, Director Jared L. Cohon sold 938 shares of Ingersoll-Rand stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $119.07, for a total value of $111,687.66. Following the transaction, the director now directly owns 23,697 shares in the company, valued at $2,821,601.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Evan M. Turtz sold 3,770 shares of Ingersoll-Rand stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total transaction of $482,560.00. Following the completion of the transaction, the insider now owns 15,549 shares in the company, valued at $1,990,272. The disclosure for this sale can be found here. Insiders have sold a total of 151,441 shares of company stock worth $18,935,873 over the last quarter. 0.70% of the stock is owned by company insiders.
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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