Ingersoll Rand Inc. (NYSE:IR) Shares Sold by NorthCrest Asset Manangement LLC

Posted by Defense World Staff on Jul 13th, 2023

Ingersoll Rand logo NorthCrest Asset Manangement LLC lowered its holdings in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,254 shares of the industrial products company’s stock after selling 325 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Ingersoll Rand were worth $422,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IR. Handelsbanken Fonder AB grew its holdings in Ingersoll Rand by 63.8% during the 4th quarter. Handelsbanken Fonder AB now owns 297,747 shares of the industrial products company’s stock valued at $15,557,000 after purchasing an additional 116,017 shares in the last quarter. Barclays PLC grew its holdings in Ingersoll Rand by 41.6% during the 4th quarter. Barclays PLC now owns 490,126 shares of the industrial products company’s stock valued at $25,608,000 after purchasing an additional 143,977 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Ingersoll Rand during the 4th quarter valued at $370,000. ING Groep NV acquired a new position in Ingersoll Rand during the 4th quarter worth $238,000. Finally, Desjardins Global Asset Management Inc. increased its stake in Ingersoll Rand by 27.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,263 shares of the industrial products company’s stock valued at $65,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on IR shares. Citigroup raised their target price on shares of Ingersoll Rand from $67.00 to $75.00 in a research note on Monday. Evercore ISI raised shares of Ingersoll Rand from an “in-line” rating to an “outperform” rating and set a $71.00 target price on the stock in a research note on Tuesday, May 9th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $62.00 to $66.00 in a research note on Friday, May 5th. Stifel Nicolaus lifted their price objective on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research note on Monday, April 17th. Finally, Barclays lifted their price objective on shares of Ingersoll Rand from $65.00 to $70.00 in a research note on Monday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 27,169 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $65.00, for a total value of $1,765,985.00. Following the completion of the sale, the insider now directly owns 73,877 shares of the company’s stock, valued at $4,802,005. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Gary E. Gillespie sold 27,487 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $60.73, for a total transaction of $1,669,285.51. Following the completion of the sale, the insider now directly owns 42,234 shares of the company’s stock, valued at approximately $2,564,870.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Vicente Reynal sold 27,169 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $65.00, for a total transaction of $1,765,985.00. Following the sale, the insider now directly owns 73,877 shares of the company’s stock, valued at $4,802,005. The disclosure for this sale can be found here. Insiders sold 58,659 shares of company stock valued at $3,685,458 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR opened at $66.11 on Thursday. The company’s 50 day moving average price is $61.62 and its 200 day moving average price is $57.96. Ingersoll Rand Inc. has a 52 week low of $39.28 and a 52 week high of $67.02. The company has a market capitalization of $26.74 billion, a PE ratio of 40.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.50 and a current ratio of 2.16.

Ingersoll Rand (NYSE:IR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.48 billion. Research analysts expect that Ingersoll Rand Inc. will post 2.57 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 22nd. Shareholders of record on Wednesday, May 24th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, May 23rd. Ingersoll Rand’s dividend payout ratio is 4.94%.

Ingersoll Rand Profile

(Free Report)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.