Massachusetts Financial Services Co. MA Decreases Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Financial Services Co. MA reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 49.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,950,316 shares of the industrial products company’s stock after selling 2,851,767 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.73% of Ingersoll Rand worth $268,007,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in shares of Ingersoll Rand during the second quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand during the 1st quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of Ingersoll Rand during the 1st quarter valued at $29,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Ingersoll Rand in the 4th quarter worth about $28,000. Finally, ESL Trust Services LLC bought a new position in shares of Ingersoll Rand in the 1st quarter worth about $35,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IR has been the topic of a number of recent research reports. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Robert W. Baird upped their price target on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. 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 note on Friday, August 2nd. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at approximately $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand 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 transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock worth $7,108,005 in the last 90 days. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Trading Up 3.3 %

NYSE:IR opened at $93.97 on Wednesday. The company has a market cap of $37.91 billion, a PE ratio of 46.75, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. 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 company has a 50 day simple moving average of $92.44 and a two-hundred day simple moving average of $92.16. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Research analysts forecast that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced 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 dividend payout ratio is currently 3.98%.

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.