Texas Permanent School Fund Corp Has $6.08 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Texas Permanent School Fund Corp cut its position in Ingersoll Rand Inc. (NYSE:IR) by 20.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 66,911 shares of the industrial products company’s stock after selling 16,794 shares during the period. Texas Permanent School Fund Corp’s holdings in Ingersoll Rand were worth $6,078,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IR. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after purchasing an additional 96,982 shares during the period. Nomura Holdings Inc. raised its position in shares of Ingersoll Rand by 3,010.2% during the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 204,481 shares during the last quarter. Varenne Capital Partners acquired a new position in shares of Ingersoll Rand in the fourth quarter worth approximately $1,693,000. Azzad Asset Management Inc. ADV bought a new stake in Ingersoll Rand in the first quarter valued at approximately $1,221,000. Finally, Swedbank AB increased its position in Ingersoll Rand by 34.0% during the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IR shares. Cfra reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Barclays cut their price target on shares of 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 lifted their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.00.

Ingersoll Rand Trading Up 1.8 %

NYSE IR opened at $89.63 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30. The business has a 50 day moving average price of $92.45 and a 200-day moving average price of $92.13. The company has a market cap of $36.16 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 2.45 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Ingersoll Rand Profile

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.