Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 29.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 949,473 shares of the industrial products company’s stock after selling 399,589 shares during the quarter. Sei Investments Co. owned 0.24% of Ingersoll Rand worth $86,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IR. Capital International Investors lifted its stake in shares of Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the period. Capital World Investors acquired a new stake in Ingersoll Rand in the first quarter valued at about $440,401,000. JPMorgan Chase & Co. boosted its holdings in Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after purchasing an additional 3,535,543 shares in the last quarter. Capital Research Global Investors increased its position in Ingersoll Rand by 46.6% during the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Ingersoll Rand by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,165,135 shares of the industrial products company’s stock worth $585,380,000 after buying an additional 886,697 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on 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 owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the 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 transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IR. Wells Fargo & Company cut their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Evercore ISI reduced their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Stifel Nicolaus upped their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $96.77 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $101.30. The stock has a fifty day moving average of $92.46 and a two-hundred day moving average of $92.26. The company has a market capitalization of $39.04 billion, a price-to-earnings ratio of 48.14, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

About Ingersoll Rand

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.