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Posted on 9 April 2011 | 2,744 views

Ingersoll Rand Stock Price After Stock Crash of 1929

In 1871, Simon Ingersoll founded Ingersoll Rock Drill Company. In 1905 Ingersoll-Sargeant Drill Company merged with the Rand Drill Company to form Ingersoll Rand. Ingersoll Rand has largely grown by acquisition since that time. The Stock Market “Crash of ’29” and the following 1929-1932 Bear Market erased over 91% of “Ingersoll Rand’s” stock value.

With a history dating back to 1871, Ingersoll Rand and its family of brands represents a proven history in construction and mining, industrial and commercial markets.

By October 27, 1929 Ingersoll Rand was trading at $179.875 per share when the first wave of selling on “Black Monday”, October 28, 1929 brought the shares down ($5.125) to close at $174.75 per share on the day. By August 11, 1932, Ingersoll Rand was trading at $32.50 and hit a 1932 low of $14.75 per share.

Through acquisitions, innovations and customer focus, today’s Ingersoll Rand offers market-leading solutions and services that enable customers to create progress through a variety of industries and markets that touch everyday life.

Resources:

The Pittsburgh Press – October 1929
The Pittsburgh Press – August 1932

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