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

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,309 shares of the industrial products company’s stock after buying an additional 1,283 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ingersoll Rand were worth $6,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Drake & Associates LLC boosted its holdings in Ingersoll Rand by 9.1% in the third quarter. Drake & Associates LLC now owns 6,394 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 533 shares during the period. Teamwork Financial Advisors LLC acquired a new position in Ingersoll Rand in the third quarter worth $2,854,000. Bleakley Financial Group LLC boosted its holdings in Ingersoll Rand by 128.0% in the third quarter. Bleakley Financial Group LLC now owns 17,914 shares of the industrial products company’s stock worth $1,758,000 after purchasing an additional 10,058 shares during the period. Vontobel Holding Ltd. boosted its holdings in Ingersoll Rand by 99.9% in the third quarter. Vontobel Holding Ltd. now owns 21,340 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 10,664 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its holdings in Ingersoll Rand by 2.4% in the third quarter. Sumitomo Life Insurance Co. now owns 23,991 shares of the industrial products company’s stock worth $2,355,000 after purchasing an additional 571 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $100.40 on Friday. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $102.74. The firm’s 50-day simple moving average is $94.09 and its 200 day simple moving average is $93.19. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market cap of $40.50 billion, a P/E ratio of 49.95, a P/E/G ratio of 2.72 and a beta of 1.42.

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

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the transaction, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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