Acadian Asset Management LLC Invests $1.18 Million in Ingersoll Rand Inc. (NYSE:IR)

Acadian Asset Management LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,966 shares of the industrial products company’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ingersoll Rand by 24.4% in 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 buying an additional 96,982 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of Ingersoll Rand by 3,010.2% during the fourth quarter. Nomura Holdings Inc. now owns 211,274 shares of the industrial products company’s stock worth $16,340,000 after purchasing an additional 204,481 shares during the last quarter. Varenne Capital Partners purchased a new stake in shares of Ingersoll Rand during the fourth quarter worth approximately $1,693,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Ingersoll Rand during the first quarter worth approximately $1,221,000. Finally, Swedbank AB raised its stake in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after purchasing an additional 198,200 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction 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 sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The sale 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 Ingersoll Rand 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 in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on IR shares. Evercore ISI dropped their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Stifel Nicolaus upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Cfra restated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $91.03 on Monday. The stock’s 50-day moving average is $92.42 and its 200-day moving average is $92.15. The company has a market cap of $36.73 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. 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 posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.02 dividend. 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 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 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.