Ingersoll Rand Inc. $IR Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 15.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 39,217 shares of the industrial products company’s stock after selling 7,062 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ingersoll Rand were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IR. NewSquare Capital LLC increased its holdings in shares of Ingersoll Rand by 150.7% in the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Ingersoll Rand in the third quarter valued at approximately $36,000. Grey Fox Wealth Advisors LLC acquired a new position in Ingersoll Rand in the 3rd quarter worth approximately $36,000. Gladwyn Financial Advisors Inc. purchased a new position in Ingersoll Rand during the 2nd quarter worth approximately $42,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Ingersoll Rand during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Vicente Reynal sold 191,000 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the completion of the sale, the insider owned 193,186 shares of the company’s stock, valued at approximately $17,023,550.32. The trade was a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 1,477 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $80.63, for a total transaction of $119,090.51. Following the transaction, the chief accounting officer owned 12,153 shares of the company’s stock, valued at $979,896.39. This represents a 10.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on IR. Robert W. Baird reduced their target price on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Citigroup boosted their price objective on Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 12th. Stifel Nicolaus raised their target price on Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.13.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $85.94 on Friday. The firm has a market cap of $33.96 billion, a PE ratio of 63.66, a P/E/G ratio of 5.60 and a beta of 1.33. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $95.85. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $82.50 and a 200 day moving average price of $80.80.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Ingersoll Rand had a net margin of 7.31% and a return on equity of 12.14%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.