Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 32.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,719 shares of the industrial products company’s stock after acquiring an additional 18,449 shares during the quarter. American Century Companies Inc.’s holdings in Ingersoll Rand were worth $6,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greenleaf Trust raised its holdings in shares of Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after buying an additional 118 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the period. Resonant Capital Advisors LLC grew its holdings in Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Ingersoll Rand by 28.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after buying an additional 141 shares during the period. Finally, Pitcairn Co. increased its stake in Ingersoll Rand by 4.1% during the 1st quarter. Pitcairn Co. now owns 3,829 shares of the industrial products company’s stock worth $364,000 after buying an additional 152 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Vicente Reynal sold 50,000 shares of the business’s 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 sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 over the last ninety days. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the topic of a number of analyst reports. Barclays dropped their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Cfra reaffirmed a “hold” rating and issued a $85.00 target price on shares of Ingersoll Rand in a research report on Friday, August 2nd. Morgan Stanley started coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Trading Up 0.7 %

NYSE:IR opened at $97.47 on Tuesday. The firm has a market capitalization of $39.32 billion, a P/E ratio of 48.49, a P/E/G ratio of 2.53 and a beta of 1.42. The business has a 50 day simple moving average of $92.44 and a 200 day simple moving average of $92.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30.

Ingersoll Rand (NYSE:IR) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.78 billion. Equities research analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.08%. 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.