Elo Mutual Pension Insurance Co Cuts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Elo Mutual Pension Insurance Co lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,564 shares of the industrial products company’s stock after selling 2,423 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Ingersoll Rand were worth $3,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL boosted its position in Ingersoll Rand by 2.7% during the second quarter. Blair William & Co. IL now owns 12,749 shares of the industrial products company’s stock worth $1,158,000 after purchasing an additional 331 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Ingersoll Rand by 11.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 32,836 shares of the industrial products company’s stock valued at $2,983,000 after purchasing an additional 3,342 shares during the last quarter. Argent Trust Co grew its position in shares of Ingersoll Rand by 4.2% in the second quarter. Argent Trust Co now owns 4,888 shares of the industrial products company’s stock valued at $444,000 after purchasing an additional 195 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $775,000. Finally, GDS Wealth Management raised its position in shares of Ingersoll Rand by 7.6% during the 2nd quarter. GDS Wealth Management now owns 157,167 shares of the industrial products company’s stock worth $14,277,000 after purchasing an additional 11,055 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at $9,284,951.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Vicente Reynal sold 50,000 shares of the business’s 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 sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 in the last quarter. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Up 4.2 %

Shares of NYSE IR opened at $97.65 on Friday. The stock has a fifty day moving average price of $92.47 and a 200 day moving average price of $92.21. The company has a market cap of $39.40 billion, a P/E ratio of 48.58, a P/E/G ratio of 2.53 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Research analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IR shares. Barclays cut their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Cfra restated a “hold” rating and issued a $85.00 target price on shares of Ingersoll Rand in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Finally, Robert W. Baird lifted their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.