Nemes Rush Group LLC Has $27,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Nemes Rush Group LLC cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 59.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 292 shares of the industrial products company’s stock after selling 428 shares during the quarter. Nemes Rush Group LLC’s holdings in Ingersoll Rand were worth $27,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital International Investors boosted its holdings in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares during the period. Capital World Investors bought a new stake in shares of Ingersoll Rand during the first quarter valued at approximately $440,401,000. JPMorgan Chase & Co. raised its stake in shares of Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its position in Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the period. Finally, Putnam Investments LLC boosted its stake in Ingersoll Rand by 8.0% during the fourth quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock worth $730,383,000 after buying an additional 696,610 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price 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. Cfra reiterated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Jefferies Financial Group started coverage on Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Barclays cut their price objective on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Insider Activity

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s 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 completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the firm’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 value of $1,380,290.94. Following the transaction, 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 SEC, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. 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 90 days. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Up 1.7 %

Shares of NYSE:IR opened at $98.08 on Monday. 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 firm has a market cap of $39.57 billion, a P/E 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 company’s 50-day moving average price is $92.33 and its two-hundred day moving average price is $92.51.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share 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, research analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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