Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in shares of Ingersoll-Rand PLC (NYSE:IR) by 16.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,142 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Ingersoll-Rand were worth $1,388,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IR. Norges Bank acquired a new position in Ingersoll-Rand during the 4th quarter worth approximately $360,951,000. FMR LLC boosted its stake in shares of Ingersoll-Rand by 16.0% during the 1st quarter. FMR LLC now owns 5,672,472 shares of the industrial products company’s stock worth $612,343,000 after acquiring an additional 781,104 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Ingersoll-Rand by 290.8% during the 1st quarter. First Trust Advisors LP now owns 547,727 shares of the industrial products company’s stock worth $59,127,000 after acquiring an additional 407,571 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ingersoll-Rand by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,277,339 shares of the industrial products company’s stock worth $298,484,000 after acquiring an additional 300,549 shares in the last quarter. Finally, Hexavest Inc. purchased a new stake in shares of Ingersoll-Rand during the 1st quarter worth approximately $31,241,000. Institutional investors own 78.46% of the company’s stock.
IR stock traded down $0.03 on Friday, reaching $122.39. The company had a trading volume of 26,637 shares, compared to its average volume of 1,265,781. Ingersoll-Rand PLC has a 1 year low of $85.15 and a 1 year high of $128.31. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75. The firm’s fifty day moving average price is $125.08. The company has a market capitalization of $29.52 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.81 and a beta of 1.26.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.
Several brokerages have recently commented on IR. Deutsche Bank lowered Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 price target on the stock. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Wells Fargo & Co decreased their price target on WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets lowered Iamgold from an “outperform” rating to a “market perform” rating in a research note on Monday, May 6th. Zacks Investment Research lowered Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Extended Stay America in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $124.97.
In other Ingersoll-Rand news, insider Evan M. Turtz sold 3,770 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the transaction, the insider now directly owns 15,549 shares in the company, valued at approximately $1,990,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Lamach sold 146,733 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the transaction, the chief executive officer now owns 356,238 shares of the company’s stock, valued at $44,529,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,460 shares of company stock worth $19,796,928. 0.70% of the stock is owned by corporate 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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