Amalgamated Bank Sells 2,039 Shares of Ingersoll Rand Inc. (NYSE:IR)

Amalgamated Bank lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,647 shares of the industrial products company’s stock after selling 2,039 shares during the quarter. Amalgamated Bank’s holdings in Ingersoll Rand were worth $7,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IR. Coldstream Capital Management Inc. raised its position in Ingersoll Rand by 25.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,741 shares of the industrial products company’s stock worth $521,000 after acquiring an additional 1,363 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Ingersoll Rand during the fourth quarter worth $301,000. CreativeOne Wealth LLC raised its position in Ingersoll Rand by 21.8% during the fourth quarter. CreativeOne Wealth LLC now owns 5,888 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,055 shares in the last quarter. Allstate Corp bought a new stake in Ingersoll Rand during the fourth quarter worth $209,000. Finally, Avantax Planning Partners Inc. bought a new stake in Ingersoll Rand during the fourth quarter worth $204,000. 95.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IR has been the topic of several research reports. Barclays decreased their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price objective 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. Cfra reiterated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average target price of $100.00.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock valued at $7,108,005 over the last quarter. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Up 4.2 %

IR opened at $97.65 on Friday. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The company has a 50-day simple moving average of $92.47 and a 200 day simple moving average of $92.21. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of 48.58, a P/E/G ratio of 2.53 and a beta of 1.42.

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

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.02 per share. 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 dividend payout ratio is 3.98%.

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.