Sei Investments Co. Cuts Position in Ingersoll Rand Inc. (NYSE:IR)

Sei Investments Co. lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 29.6% in the second quarter, Holdings Channel reports. The firm owned 949,473 shares of the industrial products company’s stock after selling 399,589 shares during the period. Sei Investments Co.’s holdings in Ingersoll Rand were worth $86,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in Ingersoll Rand in the second quarter valued at about $25,000. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $28,000. Riverview Trust Co purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand during the 4th quarter worth approximately $28,000. Finally, ESL Trust Services LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 0.9 %

NYSE:IR opened at $96.77 on Friday. The company has a market cap of $39.04 billion, a PE ratio of 48.14, a P/E/G ratio of 2.53 and a beta of 1.42. The business’s 50 day moving average is $92.46 and its two-hundred day moving average is $92.26. 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.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays dropped their target price 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. Finally, Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Insiders Place Their Bets

In other news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 over the last quarter. Insiders own 0.68% of the company’s stock.

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.