Commonwealth Bank of Australia grew its stake in Ingersoll-Rand PLC (NYSE:IR) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,350 shares of the industrial products company’s stock after purchasing an additional 722 shares during the period. Commonwealth Bank of Australia’s holdings in Ingersoll-Rand were worth $3,030,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IR. Ceredex Value Advisors LLC acquired a new position in shares of Ingersoll-Rand in the first quarter valued at approximately $89,309,000. Massachusetts Financial Services Co. MA grew its holdings in Ingersoll-Rand by 16.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock worth $616,406,000 after acquiring an additional 954,768 shares during the period. BlackRock Inc. grew its holdings in Ingersoll-Rand by 3.8% during the first quarter. BlackRock Inc. now owns 17,969,852 shares of the industrial products company’s stock worth $1,536,604,000 after acquiring an additional 664,322 shares during the period. American Century Companies Inc. grew its holdings in Ingersoll-Rand by 20.8% during the second quarter. American Century Companies Inc. now owns 2,824,836 shares of the industrial products company’s stock worth $253,473,000 after acquiring an additional 485,451 shares during the period. Finally, Cambiar Investors LLC acquired a new position in Ingersoll-Rand during the second quarter worth $34,866,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll-Rand stock opened at $100.29 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.58 and a beta of 1.33. Ingersoll-Rand PLC has a fifty-two week low of $79.63 and a fifty-two week high of $103.35.

Ingersoll-Rand (NYSE:IR) last posted its earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.13. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. Ingersoll-Rand’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share. equities analysts predict 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. Shareholders of record on Friday, September 7th will be issued a $0.53 dividend. This is a positive change from Ingersoll-Rand’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, September 6th. This represents a $2.12 annualized dividend and a yield of 2.11%. Ingersoll-Rand’s dividend payout ratio is 47.01%.

A number of research analysts recently weighed in on IR shares. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Sunday, July 15th. Argus upped their price objective on Ingersoll-Rand from $100.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, UBS Group upped their price objective on Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s 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 company’s stock in a transaction on Thursday, July 26th. The stock was 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 of the company’s stock, valued at $5,413,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jared L. Cohon sold 2,663 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.30, for a total value of $259,109.90. Following the completion of the sale, the director now directly owns 24,153 shares in the company, valued at approximately $2,350,086.90. The disclosure for this sale can be found here. Insiders sold 37,021 shares of company stock worth $3,525,936 in the last three months. 0.70% of the stock is owned by corporate insiders.

Ingersoll-Rand 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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