Oppenheimer Asset Management Inc. bought a new stake in shares of Ingersoll-Rand PLC (NYSE:IR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,838 shares of the industrial products company’s stock, valued at approximately $1,331,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IR. Daiwa Securities Group Inc. raised its stake in Ingersoll-Rand by 3.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 24,197 shares of the industrial products company’s stock valued at $2,069,000 after buying an additional 705 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Ingersoll-Rand during the 1st quarter valued at $420,000. Zeke Capital Advisors LLC grew its position in shares of Ingersoll-Rand by 111.1% during the 1st quarter. Zeke Capital Advisors LLC now owns 7,269 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 3,825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ingersoll-Rand by 14.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,977 shares of the industrial products company’s stock valued at $7,608,000 after acquiring an additional 11,332 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Ingersoll-Rand by 4.2% during the 1st quarter. Meeder Asset Management Inc. now owns 16,333 shares of the industrial products company’s stock valued at $1,396,000 after acquiring an additional 651 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

A number of equities research analysts have recently issued reports on IR shares. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Sunday, July 15th. Argus boosted their price objective on shares of Ingersoll-Rand from $100.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, UBS Group boosted their price objective on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $108.83.

In other Ingersoll-Rand news, EVP David S. Regnery sold 12,098 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.00, for a total value of $1,173,506.00. Following the sale, the executive vice president now owns 55,810 shares in the company, valued at approximately $5,413,570. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marcia J. Avedon sold 10,460 shares of the business’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $92.00, for a total transaction of $962,320.00. Following the completion of the sale, the senior vice president now owns 113,288 shares in the company, valued at approximately $10,422,496. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,021 shares of company stock worth $3,525,936. Corporate insiders own 0.70% of the company’s stock.

Shares of Ingersoll-Rand stock opened at $101.82 on Wednesday. The firm has a market capitalization of $24.85 billion, a P/E ratio of 22.58, a PEG ratio of 1.58 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 1.30 and a debt-to-equity ratio of 0.55. Ingersoll-Rand PLC has a fifty-two week low of $79.63 and a fifty-two week high of $102.24.

Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. Ingersoll-Rand’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. sell-side analysts forecast that Ingersoll-Rand PLC will post 5.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, September 6th. This represents a $2.12 annualized dividend and a yield of 2.08%. This is an increase from Ingersoll-Rand’s previous quarterly dividend of $0.45. Ingersoll-Rand’s dividend payout ratio is currently 39.91%.

Ingersoll-Rand Company Profile

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

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

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