Intech Investment Management LLC Purchases 18,021 Shares of Ingersoll Rand Inc. (NYSE:IR)

Intech Investment Management LLC grew its position in Ingersoll Rand Inc. (NYSE:IR) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,344 shares of the industrial products company’s stock after acquiring an additional 18,021 shares during the period. Intech Investment Management LLC’s holdings in Ingersoll Rand were worth $7,208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand during the 2nd quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ingersoll Rand during the 4th quarter worth about $28,000. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand during the 1st quarter worth about $28,000. Riverview Trust Co acquired a new stake in Ingersoll Rand in the 1st quarter worth about $29,000. Finally, Scarborough Advisors LLC acquired a new stake in Ingersoll Rand in the 4th quarter worth about $32,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 0.9 %

IR opened at $96.78 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two 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. The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.53 and a beta of 1.42. The company’s 50 day moving average price is $92.46 and its two-hundred day moving average price is $92.25.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders 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%.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly 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 SEC, which is available at the SEC website. In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s 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 sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction 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 in the company, valued at $9,284,951.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Robert W. Baird lifted their price objective 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. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Barclays dropped their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Cfra restated a “hold” rating and issued a $85.00 target price on shares of Ingersoll Rand in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Ingersoll Rand Company 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.