Choreo LLC Buys Shares of 8,785 Ingersoll Rand Inc. (NYSE:IR)

Choreo LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,785 shares of the industrial products company’s stock, valued at approximately $787,000.

A number of other hedge funds have also made changes to their positions in IR. Ridgewood Investments LLC purchased a new stake in Ingersoll Rand in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth $28,000. Headlands Technologies LLC acquired a new stake in Ingersoll Rand during the first quarter valued at $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand in the 1st quarter worth about $29,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter worth about $32,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 $9,284,951.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value 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. Over the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Up 1.3 %

Shares of Ingersoll Rand stock opened at $91.03 on Friday. The company’s fifty day moving average price is $92.42 and its two-hundred day moving average price is $92.12. The firm has a market capitalization of $36.73 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week 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.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, analysts expect that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.02 per share. 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 currently 3.98%.

Wall Street Analyst Weigh In

IR has been the subject of several recent research reports. Barclays lowered their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Robert W. Baird boosted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.00.

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.