The Manufacturers Life Insurance Company boosted its position in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 0.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,292,327 shares of the industrial products company’s stock after purchasing an additional 3,226 shares during the period. The Manufacturers Life Insurance Company owned about 0.32% of Ingersoll Rand worth $84,466,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in IR. Quintet Private Bank Europe S.A. bought a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Ingersoll Rand by 87.0% during the 2nd quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock valued at $31,000 after buying an additional 221 shares in the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter valued at approximately $32,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Ingersoll Rand by 127.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 679 shares of the industrial products company’s stock valued at $40,000 after buying an additional 380 shares in the last quarter. Finally, Clear Street Markets LLC lifted its stake in Ingersoll Rand by 93.9% in the 1st quarter. Clear Street Markets LLC now owns 793 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 384 shares in the last quarter. 94.54% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
IR has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Ingersoll Rand from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. StockNews.com initiated coverage on shares of Ingersoll Rand in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their target price on shares of Ingersoll Rand from $76.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $76.00 to $70.00 in a research report on Monday, October 9th. Finally, Cfra raised their price objective on shares of Ingersoll Rand from $66.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.10.
Check Out Our Latest Report on IR
Ingersoll Rand Price Performance
IR stock opened at $71.33 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.60 and a current ratio of 2.26. Ingersoll Rand Inc. has a 52 week low of $50.75 and a 52 week high of $71.33. The firm’s fifty day moving average is $64.94 and its 200 day moving average is $64.72. The firm has a market cap of $28.87 billion, a P/E ratio of 38.14, a P/E/G ratio of 2.08 and a beta of 1.47.
Ingersoll Rand (NYSE:IR – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.69 billion. Ingersoll Rand had a net margin of 11.47% and a return on equity of 11.82%. Research analysts predict that Ingersoll Rand Inc. will post 2.72 earnings per share for the current year.
Ingersoll Rand Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 20th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, November 17th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.28%.
Insiders Place Their Bets
In other Ingersoll Rand news, insider Andrew R. Schiesl sold 9,532 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.22, for a total value of $631,209.04. Following the sale, the insider now owns 58,263 shares of the company’s stock, valued at approximately $3,858,175.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Andrew R. Schiesl sold 9,532 shares of Ingersoll Rand stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $66.22, for a total transaction of $631,209.04. Following the sale, the insider now owns 58,263 shares of the company’s stock, valued at approximately $3,858,175.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vikram Kini sold 169,153 shares of Ingersoll Rand stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $69.43, for a total transaction of $11,744,292.79. Following the sale, the chief financial officer now directly owns 47,917 shares in the company, valued at approximately $3,326,877.31. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.
Ingersoll Rand Company Profile
(Free Report)
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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