Skandinaviska Enskilda Banken AB publ Sells 500 Shares of Ingersoll Rand Inc. (NYSE:IR)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,717 shares of the industrial products company’s stock after selling 500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Ingersoll Rand were worth $7,514,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IR. Ridgewood Investments LLC bought a new stake in shares of Ingersoll Rand during the 2nd quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in Ingersoll Rand in the fourth quarter valued at approximately $28,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand during the first quarter worth $28,000. Riverview Trust Co acquired a new position in shares of Ingersoll Rand during the first quarter worth $29,000. Finally, Scarborough Advisors LLC bought a new position in shares of Ingersoll Rand in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In related news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’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 value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 over the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IR shares. 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 report on Friday, August 2nd. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. 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 note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 target price on the stock. Finally, Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Ingersoll Rand Stock Performance

NYSE:IR opened at $96.77 on Friday. The firm has a market capitalization of $39.04 billion, a P/E ratio of 48.14, a P/E/G 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. The company has a fifty day moving average of $92.46 and a 200-day moving average of $92.26. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. As a group, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid 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 (DPR) is presently 3.98%.

Ingersoll Rand 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.