Choreo LLC Makes New $787,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Choreo LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,785 shares of the industrial products company’s stock, valued at approximately $787,000.

Other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Ingersoll Rand by 36.1% during the 4th quarter. Private Advisor Group LLC now owns 9,701 shares of the industrial products company’s stock worth $750,000 after acquiring an additional 2,573 shares in the last quarter. Principal Securities Inc. acquired a new position in Ingersoll Rand during the fourth quarter worth $144,000. Vanguard Personalized Indexing Management LLC grew its position in Ingersoll Rand by 7.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,468 shares of the industrial products company’s stock valued at $2,124,000 after purchasing an additional 1,920 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Ingersoll Rand by 14.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,029 shares of the industrial products company’s stock valued at $234,000 after buying an additional 391 shares during the last quarter. Finally, ING Groep NV lifted its position in Ingersoll Rand by 9.2% during the 4th quarter. ING Groep NV now owns 55,418 shares of the industrial products company’s stock worth $4,286,000 after buying an additional 4,649 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $91.03 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $92.42 and a 200 day simple moving average of $92.12. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $101.30. The stock has a market cap of $36.73 billion, a P/E ratio of 45.29, a PEG ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (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 company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Research analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Insider Activity

In related news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ingersoll Rand 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 transaction of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the business’s 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 of the company’s stock, valued at $3,543,473.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IR. Evercore ISI lowered 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. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price objective on the stock. Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Cfra reissued a “hold” rating and set a $85.00 price target on shares of Ingersoll Rand in a research report on Friday, August 2nd. Finally, Wells Fargo & Company cut their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Company 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.