Creative Planning Increases Stake in Ingersoll Rand Inc. (NYSE:IR)

Creative Planning boosted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,160 shares of the industrial products company’s stock after purchasing an additional 5,458 shares during the period. Creative Planning’s holdings in Ingersoll Rand were worth $6,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand during the second quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new stake in Ingersoll Rand during the 4th quarter valued at about $28,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter valued at about $28,000. Riverview Trust Co purchased a new position in shares of Ingersoll Rand in the first quarter worth about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

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 transaction, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 directly owns 3,829 shares in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 in the last 90 days. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

IR stock opened at $99.94 on Thursday. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The firm has a market capitalization of $40.32 billion, a PE ratio of 49.72, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42. The business has a 50 day simple moving average of $92.33 and a 200-day simple moving average of $92.66.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Morgan Stanley initiated coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Evercore ISI lowered their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Jefferies Financial Group initiated coverage on Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $100.33.

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.