Ingersoll Rand Inc. (NYSE:IR) Position Lowered by Private Advisor Group LLC

Private Advisor Group LLC reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 21.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,174 shares of the industrial products company’s stock after selling 1,943 shares during the quarter. Private Advisor Group LLC’s holdings in Ingersoll Rand were worth $652,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in Ingersoll Rand during the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in Ingersoll Rand during the fourth quarter valued at about $28,000. Headlands Technologies LLC acquired a new position in Ingersoll Rand during the first quarter worth about $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand during the first quarter worth about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in Ingersoll Rand in the 4th quarter valued at about $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IR shares. Cfra reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. 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. Evercore ISI reduced their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Barclays decreased their price target 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. Finally, Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Stock Up 3.3 %

Ingersoll Rand stock opened at $93.97 on Wednesday. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The firm has a market cap of $37.91 billion, a PE ratio of 46.75, a P/E/G ratio of 2.53 and a beta of 1.42. The firm’s 50 day moving average price is $92.44 and its two-hundred day moving average price is $92.16.

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

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Insider Transactions at Ingersoll Rand

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 value of $1,380,290.94. Following the completion of the sale, the insider now 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 available through this link. In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated 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 transaction, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the 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 sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 in the last 90 days. 0.68% of the stock is owned by insiders.

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.