Yousif Capital Management LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,925 shares of the industrial products company's stock after purchasing an additional 214 shares during the quarter. Yousif Capital Management LLC's holdings in Ingersoll Rand were worth $2,463,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in shares of Ingersoll Rand by 87.0% in the third quarter. Parkside Financial Bank & Trust now owns 705 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 328 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Ingersoll Rand during the second quarter worth $31,000. CoreCap Advisors LLC acquired a new stake in Ingersoll Rand during the second quarter worth $33,000. Clear Street Markets LLC increased its stake in Ingersoll Rand by 406.0% during the second quarter. Clear Street Markets LLC now owns 850 shares of the industrial products company's stock worth $36,000 after acquiring an additional 682 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. acquired a new stake in Ingersoll Rand during the second quarter worth $41,000. Institutional investors and hedge funds own 99.73% of the company's stock.
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Insider Transactions at Ingersoll Rand
In related news, CAO Michael J. Scheske sold 1,742 shares of the business's stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $57.00, for a total value of $99,294.00. Following the transaction, the chief accounting officer now owns 7,112 shares in the company, valued at approximately $405,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Michael J. Scheske sold 1,742 shares of the business's stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $57.00, for a total value of $99,294.00. Following the transaction, the chief accounting officer now owns 7,112 shares in the company, valued at approximately $405,384. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 1,743 shares of the business's stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.43, for a total value of $93,128.49. Following the completion of the transaction, the chief accounting officer now owns 7,110 shares in the company, valued at approximately $379,887.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,378 shares of company stock worth $1,289,969. Corporate insiders own 0.75% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on IR shares. TheStreet raised Ingersoll Rand from a "c" rating to a "b" rating in a research note on Friday, November 25th. Morgan Stanley raised their price target on Ingersoll Rand from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, November 4th. StockNews.com assumed coverage on Ingersoll Rand in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Ingersoll Rand from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, October 13th. Finally, Wells Fargo & Company raised their price target on Ingersoll Rand from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, January 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.50.
Ingersoll Rand Stock Up 0.2 %
Ingersoll Rand stock opened at $55.66 on Monday. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $57.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 1.79. The stock has a market cap of $22.54 billion, a PE ratio of 33.53 and a beta of 1.43. The stock's fifty day moving average is $54.06 and its two-hundred day moving average is $50.35.
Ingersoll Rand (NYSE:IR – Get Rating) last posted its earnings results on Wednesday, November 2nd. The industrial products company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. Ingersoll Rand had a return on equity of 9.81% and a net margin of 11.91%. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.45 billion. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 2.12 EPS for the current fiscal year.
Ingersoll Rand Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Tuesday, November 15th. Ingersoll Rand's dividend payout ratio (DPR) is currently 4.82%.
Ingersoll Rand Company Profile
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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.
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