The Manufacturers Life Insurance Company Sells 10,709 Shares of Ingersoll Rand Inc. (NYSE:IR)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 901,333 shares of the industrial products company’s stock after selling 10,709 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.22% of Ingersoll Rand worth $81,877,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand in the 1st quarter worth $28,000. Riverview Trust Co bought a new position in shares of Ingersoll Rand in the 1st quarter worth $29,000. Kapitalo Investimentos Ltda bought a new position in shares of Ingersoll Rand in the 4th quarter worth $28,000. Finally, ESL Trust Services LLC bought a new position in shares of Ingersoll Rand in the 1st quarter worth $35,000. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated 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 owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is owned by insiders.

Ingersoll Rand Trading Up 1.7 %

Shares of Ingersoll Rand stock opened at $98.08 on Friday. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.30. The firm has a market cap of $39.57 billion, a PE ratio of 48.80, a P/E/G ratio of 2.75 and a beta of 1.42. The stock has a fifty day moving average price of $92.33 and a 200-day moving average price of $92.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

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

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued 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 currently 3.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IR. Evercore ISI cut their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Robert W. Baird increased their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 target price on the stock. Wells Fargo & Company lowered their price target on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

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.