Mackenzie Financial Corp Buys 212 Shares of Ingersoll Rand Inc. (NYSE:IR)

Mackenzie Financial Corp raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,266 shares of the industrial products company’s stock after acquiring an additional 212 shares during the quarter. Mackenzie Financial Corp’s holdings in Ingersoll Rand were worth $23,279,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. MBB Public Markets I LLC bought a new position in shares of Ingersoll Rand during the second quarter worth approximately $2,645,000. DE Burlo Group Inc. increased its position in Ingersoll Rand by 9.3% during the 2nd quarter. DE Burlo Group Inc. now owns 206,600 shares of the industrial products company’s stock worth $18,768,000 after buying an additional 17,500 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Ingersoll Rand by 232.2% during the second quarter. APG Asset Management N.V. now owns 66,388 shares of the industrial products company’s stock worth $5,627,000 after buying an additional 46,405 shares in the last quarter. AXA S.A. lifted its holdings in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock worth $7,978,000 after buying an additional 39,417 shares in the last quarter. Finally, Insigneo Advisory Services LLC grew its stake in shares of Ingersoll Rand by 2.7% in the second quarter. Insigneo Advisory Services LLC now owns 37,031 shares of the industrial products company’s stock valued at $3,223,000 after acquiring an additional 961 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Stifel Nicolaus raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Cfra reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.00.

Insider Activity

In related news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction 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 sale, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated 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 sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $416,563.71. Following the sale, 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 worth $7,108,005. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $98.08 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market cap of $39.57 billion, a PE ratio of 48.80, a P/E/G ratio of 2.75 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The business’s 50-day moving average price is $92.33 and its two-hundred day moving average price is $92.49.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. As a group, 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. Stockholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

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.