Sumitomo Mitsui DS Asset Management Company Ltd Acquires 18,151 Shares of Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 39.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,026 shares of the industrial products company’s stock after purchasing an additional 18,151 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ingersoll Rand were worth $5,816,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. iA Global Asset Management Inc. raised its stake in Ingersoll Rand by 13.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 12,819 shares of the industrial products company’s stock valued at $1,164,000 after acquiring an additional 1,487 shares during the period. Main Street Research LLC raised its stake in Ingersoll Rand by 3.0% in the 2nd quarter. Main Street Research LLC now owns 350,312 shares of the industrial products company’s stock valued at $31,822,000 after acquiring an additional 10,060 shares during the period. UMB Bank n.a. raised its stake in Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. Ridgewood Investments LLC bought a new stake in Ingersoll Rand in the 2nd quarter valued at about $25,000. Finally, HB Wealth Management LLC raised its stake in Ingersoll Rand by 35.1% in the 2nd quarter. HB Wealth Management LLC now owns 6,513 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 1,691 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Up 0.7 %

IR stock opened at $91.45 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.71 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $92.83 and its 200 day moving average is $92.11. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 45.50, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.17 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,996 shares of company stock worth $24,596,606. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com cut Ingersoll Rand from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Stifel Nicolaus upped their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays decreased their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird upped their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Evercore ISI decreased their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.27.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.