Mirae Asset Global Investments Co. Ltd. Acquires 6,122 Shares of Ingersoll Rand Inc. (NYSE:IR)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 22.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,368 shares of the industrial products company’s stock after purchasing an additional 6,122 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ingersoll Rand were worth $3,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand during the 2nd quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at $35,000. EverSource Wealth Advisors LLC raised its holdings in Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the period. Finally, UMB Bank n.a. raised its holdings in Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after buying an additional 309 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $97.26 on Wednesday. The firm has a market cap of $39.24 billion, a P/E ratio of 48.39, a P/E/G ratio of 2.69 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $59.51 and a 12 month high of $102.74. The stock’s fifty day moving average price is $95.04 and its 200-day moving average price is $93.39.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating 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 analyst estimates of $1.78 billion. On average, equities research analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.98%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IR. Robert W. Baird increased their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Evercore ISI reduced their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.17.

Insider Activity at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 over the last quarter. 0.68% of the stock is owned by corporate insiders.

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.