Resources Investment Advisors LLC. acquired a new stake in Ingersoll Rand Inc. (NYSE:IR – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,534 shares of the industrial products company’s stock, valued at approximately $264,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sentry Investment Management LLC boosted its holdings in shares of Ingersoll Rand by 8.0% in the fourth quarter. Sentry Investment Management LLC now owns 2,671 shares of the industrial products company’s stock valued at $140,000 after buying an additional 197 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Ingersoll Rand by 0.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 68,645 shares of the industrial products company’s stock valued at $3,994,000 after purchasing an additional 199 shares in the last quarter. Field & Main Bank boosted its position in shares of Ingersoll Rand by 42.3% during the first quarter. Field & Main Bank now owns 673 shares of the industrial products company’s stock worth $39,000 after buying an additional 200 shares during the period. CWM LLC boosted its position in Ingersoll Rand by 2.2% during the 1st quarter. CWM LLC now owns 9,277 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 202 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its stake in shares of Ingersoll Rand by 5.1% during the 1st quarter. Ronald Blue Trust Inc. now owns 4,422 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 213 shares in the last quarter. 94.73% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Ingersoll Rand from $65.00 to $71.00 in a report on Monday, July 10th. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Friday. Cfra upped their target price on Ingersoll Rand from $60.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Robert W. Baird upped their price target on shares of Ingersoll Rand from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Evercore ISI raised shares of Ingersoll Rand from an “in-line” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Tuesday, May 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $69.36.
Insider Buying and Selling
In other news, insider Gary E. Gillespie sold 27,487 shares of Ingersoll Rand stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $60.73, for a total value of $1,669,285.51. Following the completion of the transaction, the insider now owns 42,234 shares in the company, valued at $2,564,870.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gary E. Gillespie sold 27,487 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $60.73, for a total value of $1,669,285.51. Following the completion of the sale, the insider now directly owns 42,234 shares in the company, valued at approximately $2,564,870.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 27,169 shares of Ingersoll Rand 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 completion of the transaction, the insider now directly owns 73,877 shares in the company, valued at $4,802,005. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,659 shares of company stock worth $3,685,458. Insiders own 0.83% of the company’s stock.
Ingersoll Rand Trading Down 0.4 %
Shares of Ingersoll Rand stock opened at $68.23 on Friday. The firm has a market capitalization of $27.59 billion, a PE ratio of 39.67, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. The company has a current ratio of 2.29, a quick ratio of 1.62 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $65.74 and its 200 day moving average is $60.40. Ingersoll Rand Inc. has a 1 year low of $42.20 and a 1 year high of $69.15.
Ingersoll Rand (NYSE:IR – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. Ingersoll Rand had a net margin of 10.89% and a return on equity of 11.20%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts forecast that Ingersoll Rand Inc. will post 2.63 earnings per share for the current fiscal year.
Ingersoll Rand Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, August 23rd will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 22nd. Ingersoll Rand’s payout ratio is currently 4.65%.
About Ingersoll Rand
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.
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