Kentucky Retirement Systems Has $2.76 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Kentucky Retirement Systems lessened its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 30,401 shares of the industrial products company’s stock after selling 340 shares during the period. Kentucky Retirement Systems’ holdings in Ingersoll Rand were worth $2,762,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IR. Ridgewood Investments LLC bought a new stake in Ingersoll Rand during the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at about $28,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand during the first quarter worth about $28,000. Riverview Trust Co acquired a new stake in shares of Ingersoll Rand in the 1st quarter worth about $29,000. Finally, Scarborough Advisors LLC bought a new position in Ingersoll Rand in the 4th quarter valued at about $32,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cfra reissued a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a report on Friday, August 2nd. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Evercore ISI cut their price objective 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 target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly 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 accessible through this link. In related news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now directly owns 6,559 shares in the company, valued at approximately $599,623.78. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 over the last quarter. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Stock Down 0.9 %

IR opened at $96.78 on Friday. The company’s 50-day moving average price is $92.46 and its two-hundred day moving average price is $92.25. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The stock has a market cap of $39.04 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last announced 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 during the quarter, compared to analyst estimates of $1.78 billion. As a group, equities analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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. 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%.

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.