The Manufacturers Life Insurance Company grew its stake in Ingersoll-Rand PLC (NYSE:IR) by 124.3% during the 4th quarter, Holdings Channel reports. The firm owned 621,260 shares of the industrial products company’s stock after buying an additional 344,324 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Ingersoll-Rand were worth $55,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Ingersoll-Rand during the 3rd quarter valued at about $3,576,000. Prudential Financial Inc. boosted its position in shares of Ingersoll-Rand by 87.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,429,458 shares of the industrial products company’s stock valued at $127,465,000 after acquiring an additional 666,550 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Ingersoll-Rand by 1,451.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 407,780 shares of the industrial products company’s stock valued at $36,362,000 after acquiring an additional 381,497 shares in the last quarter. RKL Wealth Management LLC boosted its position in shares of Ingersoll-Rand by 20.9% during the 3rd quarter. RKL Wealth Management LLC now owns 11,966 shares of the industrial products company’s stock valued at $1,069,000 after acquiring an additional 2,072 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Ingersoll-Rand by 5.5% during the 3rd quarter. State of Wisconsin Investment Board now owns 226,326 shares of the industrial products company’s stock valued at $20,181,000 after acquiring an additional 11,824 shares in the last quarter. Institutional investors own 78.90% of the company’s stock.
Ingersoll-Rand PLC (NYSE:IR) opened at $91.03 on Monday. Ingersoll-Rand PLC has a 12 month low of $77.26 and a 12 month high of $97.67. The firm has a market cap of $22,747.42, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio is presently 35.50%.
Several analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 26th. BMO Capital Markets lifted their target price on shares of Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus lifted their target price on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Barclays assumed coverage on shares of Ingersoll-Rand in a research report on Thursday. They set an “overweight” rating and a $111.00 target price on the stock. Finally, Morgan Stanley lowered shares of Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 target price on the stock. in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Ingersoll-Rand presently has an average rating of “Hold” and a consensus target price of $103.08.
In other Ingersoll-Rand news, Chairman Michael W. Lamach sold 210,508 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $88.28, for a total value of $18,583,646.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jared L. Cohon sold 2,350 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.40, for a total transaction of $217,140.00. Following the completion of the transaction, the director now directly owns 25,766 shares of the company’s stock, valued at $2,380,778.40. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
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Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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