Dai ichi Life Insurance Company Ltd Has $1.82 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Dai ichi Life Insurance Company Ltd cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,059 shares of the industrial products company’s stock after selling 3,072 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Ingersoll Rand were worth $1,822,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Greenleaf Trust boosted its position in shares of Ingersoll Rand by 2.0% during the 1st quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock worth $562,000 after acquiring an additional 118 shares in the last quarter. Spire Wealth Management lifted its stake in Ingersoll Rand by 8.5% during the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Ingersoll Rand by 4.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company’s stock worth $60,000 after buying an additional 141 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction 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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of IR opened at $91.03 on Monday. The business has a 50-day moving average of $92.42 and a 200-day moving average of $92.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.30.

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

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley began coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Cfra reiterated a “hold” rating and set a $85.00 price target on shares of Ingersoll Rand in a report on Friday, August 2nd. Finally, Wells Fargo & Company cut their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

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.