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

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,908 shares of the industrial products company’s stock after acquiring an additional 523 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ingersoll Rand were worth $3,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock worth $1,222,789,000 after acquiring an additional 627,146 shares during the period. JPMorgan Chase & Co. grew its holdings in Ingersoll Rand by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock worth $735,821,000 after acquiring an additional 213,441 shares during the period. Northern Trust Corp boosted its position in Ingersoll Rand by 2.4% during the third quarter. Northern Trust Corp now owns 4,005,504 shares of the industrial products company’s stock worth $255,231,000 after purchasing an additional 95,559 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Ingersoll Rand by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,059,347 shares of the industrial products company’s stock worth $131,222,000 after purchasing an additional 28,030 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Ingersoll Rand by 0.4% during the third quarter. Royal Bank of Canada now owns 2,020,934 shares of the industrial products company’s stock worth $128,773,000 after purchasing an additional 7,524 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

NYSE IR opened at $90.56 on Wednesday. The company has a market cap of $36.54 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.44. The stock’s 50 day simple moving average is $91.42 and its 200-day simple moving average is $79.27. Ingersoll Rand Inc. has a 1-year low of $53.24 and a 1-year high of $96.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is 4.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IR shares. The Goldman Sachs Group increased their price target on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Cfra increased their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. StockNews.com upgraded Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Sunday, April 7th. Citigroup increased their price target on Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Evercore ISI downgraded Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.73.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by corporate insiders.

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.