Daiwa Securities Group Inc. Buys 29,891 Shares of Ingersoll Rand Inc. (NYSE:IR)

Daiwa Securities Group Inc. lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 56.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,043 shares of the industrial products company’s stock after acquiring an additional 29,891 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ingersoll Rand were worth $7,544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Choreo LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at approximately $787,000. Wedbush Securities Inc. acquired a new stake in Ingersoll Rand in the second quarter valued at $598,000. Prudential PLC lifted its holdings in Ingersoll Rand by 5.7% during the 2nd quarter. Prudential PLC now owns 192,297 shares of the industrial products company’s stock worth $17,468,000 after buying an additional 10,448 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ingersoll Rand in the second quarter valued at about $125,000. Finally, Ballentine Partners LLC raised its position in shares of Ingersoll Rand by 7.5% during the second quarter. Ballentine Partners LLC now owns 12,594 shares of the industrial products company’s stock worth $1,144,000 after acquiring an additional 875 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other news, insider Vicente Reynal sold 50,000 shares of the company’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 completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. In other Ingersoll Rand 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 transaction, the insider now 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 can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,543,473.64. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 in the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Evercore ISI dropped their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Barclays lowered their price objective on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird upped 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Stock Up 1.8 %

Ingersoll Rand stock opened at $89.63 on Thursday. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $101.30. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $92.45 and its two-hundred day moving average price is $92.13. The firm has a market capitalization of $36.16 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 2.45 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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts predict that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

About Ingersoll Rand

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.