Van Hulzen Asset Management LLC lowered its stake in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,694 shares of the industrial products company's stock after selling 324 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Ingersoll Rand were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in IR. American Century Companies Inc. grew its position in shares of Ingersoll Rand by 12.0% during the first quarter. American Century Companies Inc. now owns 15,601 shares of the industrial products company's stock worth $786,000 after purchasing an additional 1,675 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ingersoll Rand by 47.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,880 shares of the industrial products company's stock worth $497,000 after purchasing an additional 3,185 shares during the period. Private Advisor Group LLC purchased a new position in shares of Ingersoll Rand in the 1st quarter worth approximately $327,000. Panagora Asset Management Inc. boosted its holdings in shares of Ingersoll Rand by 62.2% in the 1st quarter. Panagora Asset Management Inc. now owns 28,937 shares of the industrial products company's stock worth $1,457,000 after purchasing an additional 11,096 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of Ingersoll Rand by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 57,771 shares of the industrial products company's stock worth $2,909,000 after acquiring an additional 988 shares during the last quarter. Institutional investors own 99.73% of the company's stock.
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Insider Activity
In other Ingersoll Rand news, insider Vicente Reynal sold 10,893 shares of the business's stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.02, for a total value of $577,546.86. Following the completion of the transaction, the insider now directly owns 128,567 shares in the company, valued at approximately $6,816,622.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 10,893 shares of the business's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $53.02, for a total value of $577,546.86. Following the transaction, the insider now owns 128,567 shares in the company, valued at approximately $6,816,622.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 1,743 shares of the company's stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.43, for a total transaction of $93,128.49. Following the completion of the sale, 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. In the last three months, insiders sold 24,378 shares of company stock worth $1,289,969. Company insiders own 0.75% of the company's stock.
Ingersoll Rand Trading Up 0.8 %
NYSE:IR traded up $0.44 during trading hours on Tuesday, reaching $55.75. 330,662 shares of the stock were exchanged, compared to its average volume of 1,958,788. The company has a quick ratio of 1.79, a current ratio of 2.46 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $54.06 and a two-hundred day moving average of $50.42. Ingersoll Rand Inc. has a twelve month low of $39.28 and a twelve month high of $57.77. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 33.32 and a beta of 1.43.
Ingersoll Rand (NYSE:IR – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.45 billion. Ingersoll Rand had a return on equity of 9.81% and a net margin of 11.91%. On average, equities analysts predict that Ingersoll Rand Inc. will post 2.12 EPS for the current year.
Ingersoll Rand Cuts Dividend
The business also recently declared 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. The ex-dividend date was Tuesday, November 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Ingersoll Rand's payout ratio is 4.82%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Ingersoll Rand from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Ingersoll Rand from $51.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, October 13th. Wells Fargo & Company upped their price target on Ingersoll Rand from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, January 19th. Stifel Nicolaus upped their price target on Ingersoll Rand from $58.00 to $60.00 and gave the stock a "hold" rating in a report on Friday, January 20th. Finally, Barclays increased their target price on Ingersoll Rand from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, January 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.50.
About Ingersoll Rand
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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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