Kentucky Retirement Systems Has $2.76 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Kentucky Retirement Systems lowered its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,401 shares of the industrial products company’s stock after selling 340 shares during the quarter. Kentucky Retirement Systems’ holdings in Ingersoll Rand were worth $2,762,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Hsbc Holdings PLC grew its position in Ingersoll Rand by 12.4% during the second quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company’s stock worth $78,422,000 after buying an additional 95,371 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Ingersoll Rand by 2.7% during the 2nd 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 increased 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 worth $2,983,000 after purchasing an additional 3,342 shares during the period. Argent Trust Co raised its stake in 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 in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Ingersoll Rand during the second quarter worth about $775,000. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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. Stifel Nicolaus boosted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the 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 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 accessible through the SEC website. In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The stock was 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 $9,284,951.17. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 over the last ninety days. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $96.78 on Friday. The company has a market capitalization of $39.04 billion, a PE ratio of 48.15, a P/E/G ratio of 2.53 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $92.46 and a two-hundred day moving average price of $92.25. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS 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 for the quarter, compared to the consensus estimate of $1.78 billion. Analysts expect that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

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.