Texas Yale Capital Corp. lowered its position in Ingersoll-Rand PLC (NYSE:IR) by 50.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,825 shares of the industrial products company’s stock after selling 7,825 shares during the quarter. Texas Yale Capital Corp.’s holdings in Ingersoll-Rand were worth $991,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas boosted its position in shares of Ingersoll-Rand by 1.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 6,445 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 80 shares in the last quarter. MorganRosel Wealth Management LLC boosted its stake in Ingersoll-Rand by 1.3% in the 1st quarter. MorganRosel Wealth Management LLC now owns 7,163 shares of the industrial products company’s stock valued at $773,000 after buying an additional 91 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Ingersoll-Rand by 0.5% in the 2nd quarter. Leavell Investment Management Inc. now owns 18,529 shares of the industrial products company’s stock valued at $2,347,000 after buying an additional 100 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in Ingersoll-Rand by 10.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,108 shares of the industrial products company’s stock valued at $119,000 after buying an additional 101 shares in the last quarter. Finally, CAPROCK Group Inc. boosted its stake in Ingersoll-Rand by 4.7% in the 2nd quarter. CAPROCK Group Inc. now owns 2,382 shares of the industrial products company’s stock valued at $302,000 after buying an additional 108 shares in the last quarter. 78.35% of the stock is currently owned by hedge funds and other institutional investors.
Ingersoll-Rand stock traded up $0.91 during midday trading on Tuesday, reaching $118.91. The stock had a trading volume of 13,218 shares, compared to its average volume of 1,400,237. Ingersoll-Rand PLC has a 12 month low of $85.15 and a 12 month high of $128.31. The company has a market cap of $28.46 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.70 and a beta of 1.24. The business has a fifty day moving average price of $124.55. 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is 37.79%.
Several analysts recently commented on the company. Wells Fargo & Co boosted their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Cowen reissued a “buy” rating and issued a $131.00 price objective on shares of Ingersoll-Rand in a research report on Tuesday, July 30th. Morgan Stanley lifted their price objective on Ingersoll-Rand from $137.00 to $139.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price objective for the company in a research report on Wednesday, May 1st. Finally, Credit Suisse Group lifted their price objective on Ingersoll-Rand from $138.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Ingersoll-Rand currently has an average rating of “Buy” and a consensus price target of $128.70.
In related news, CEO Michael W. Lamach sold 146,733 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $125.00, for a total value of $18,341,625.00. Following the completion of the sale, the chief executive officer now directly owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Evan M. Turtz sold 3,770 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $128.00, for a total value of $482,560.00. Following the completion of the sale, the insider now directly owns 15,549 shares of the company’s stock, valued at $1,990,272. The disclosure for this sale can be found here. Insiders own 0.71% 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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