Ingersoll Rand Inc. (NYSE:IR) Position Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 65,309 shares of the industrial products company’s stock after purchasing an additional 1,283 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ingersoll Rand were worth $6,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Drake & Associates LLC grew its stake in Ingersoll Rand by 9.1% during the 3rd quarter. Drake & Associates LLC now owns 6,394 shares of the industrial products company’s stock valued at $628,000 after acquiring an additional 533 shares in the last quarter. Teamwork Financial Advisors LLC bought a new stake in shares of Ingersoll Rand in the 3rd quarter valued at approximately $2,854,000. Bleakley Financial Group LLC grew its stake in shares of Ingersoll Rand by 128.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 17,914 shares of the industrial products company’s stock valued at $1,758,000 after buying an additional 10,058 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Ingersoll Rand by 99.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 21,340 shares of the industrial products company’s stock valued at $2,095,000 after buying an additional 10,664 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in shares of Ingersoll Rand by 2.4% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 23,991 shares of the industrial products company’s stock valued at $2,355,000 after buying an additional 571 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 0.6 %

Shares of IR stock opened at $100.40 on Friday. The firm has a market cap of $40.50 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. 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 Inc. has a 12 month low of $59.20 and a 12 month high of $102.74. The stock has a 50 day moving average of $94.09 and a 200-day moving average of $93.19.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data 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. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, equities analysts predict that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IR shares. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the company’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 sale, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,510 shares of company stock worth $7,108,005. Company insiders own 0.68% of the company’s stock.

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.