Frank Rimerman Advisors LLC Acquires 20,456 Shares of Ingersoll Rand Inc. (NYSE:IR)

Frank Rimerman Advisors LLC lifted its stake in Ingersoll Rand Inc. (NYSE:IR) by 227,288.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,465 shares of the industrial products company’s stock after purchasing an additional 20,456 shares during the period. Frank Rimerman Advisors LLC’s holdings in Ingersoll Rand were worth $1,859,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IR. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Ingersoll Rand by 24.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after purchasing an additional 96,982 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in Ingersoll Rand by 3,010.2% in the 4th quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after buying an additional 204,481 shares during the period. Varenne Capital Partners bought a new position in Ingersoll Rand in the 4th quarter worth $1,693,000. Azzad Asset Management Inc. ADV purchased a new stake in Ingersoll Rand in the 1st quarter worth $1,221,000. Finally, Swedbank AB raised its holdings in Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after acquiring an additional 198,200 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $96.77 on Monday. The company’s 50-day moving average price is $92.46 and its 200-day moving average price is $92.28. 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 company has a market cap of $39.04 billion, a PE ratio of 48.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30.

Ingersoll Rand (NYSE:IR) last issued 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 return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.02 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Wall Street Analyst Weigh In

IR has been the subject of several research analyst reports. Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Cfra reaffirmed a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird upped their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target 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. Five 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 50,000 shares of the 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 owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on 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 $3,543,473.64. 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 three months. 0.68% of the stock is owned by company insiders.

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.