Hartford Investment Management Co. Cuts Stake in Ingersoll Rand Inc. (NYSE:IR)

Hartford Investment Management Co. lessened its stake in Ingersoll Rand Inc. (NYSE:IR) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,588 shares of the industrial products company’s stock after selling 299 shares during the quarter. Hartford Investment Management Co.’s holdings in Ingersoll Rand were worth $2,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. Capital International Investors grew its holdings in Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors purchased a new position in shares of Ingersoll Rand in the first quarter valued at $440,401,000. JPMorgan Chase & Co. increased its position in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Capital Research Global Investors raised its stake in Ingersoll Rand by 15.3% during the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after purchasing an additional 1,504,414 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Ingersoll Rand in the 1st quarter worth about $55,310,000. Institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of the 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 transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Vicente Reynal sold 50,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now directly owns 6,559 shares in the company, valued at approximately $599,623.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,510 shares of company stock valued at $7,108,005. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $95.93 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company has a market capitalization of $38.70 billion, a PE ratio of 47.73, a P/E/G ratio of 2.72 and a beta of 1.42. The company has a 50 day moving average price of $94.60 and a 200-day moving average price of $93.29. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $102.74.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share 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. As a group, equities analysts forecast that Ingersoll Rand Inc. will post 3.22 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.98%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IR. Morgan Stanley assumed coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Robert W. Baird raised their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Company 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.