ProShare Advisors LLC Increases Position in Ingersoll Rand Inc. (NYSE:IR)

ProShare Advisors LLC lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,213 shares of the industrial products company’s stock after buying an additional 3,014 shares during the quarter. ProShare Advisors LLC’s holdings in Ingersoll Rand were worth $6,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand in the fourth quarter worth about $28,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand in the 1st quarter worth about $28,000. Riverview Trust Co bought a new stake in Ingersoll Rand during the 1st quarter valued at about $29,000. Finally, Scarborough Advisors LLC bought a new position in Ingersoll Rand in the 4th quarter worth about $32,000. 95.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IR has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays decreased their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Finally, Cfra reiterated a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Price Performance

Shares of IR opened at $95.03 on Thursday. The company has a 50 day moving average of $92.39 and a two-hundred day moving average of $92.37. 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 twelve month low of $59.20 and a twelve month high of $101.30. The company has a market cap of $38.34 billion, a price-to-earnings ratio of 47.28, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts predict that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Insider Buying and Selling

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s 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 owns 3,829 shares in the company, valued at approximately $344,571.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the 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 completion of the transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 in the last three months. Corporate insiders own 0.68% of the company’s stock.

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.