Kornitzer Capital Management Inc. KS Sells 107,625 Shares of Ingersoll Rand Inc. (NYSE:IR)

Kornitzer Capital Management Inc. KS lessened its holdings in Ingersoll Rand Inc. (NYSE:IR) by 51.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,764 shares of the industrial products company’s stock after selling 107,625 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Ingersoll Rand were worth $9,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IR. National Bank of Canada FI boosted its position in Ingersoll Rand by 24.0% in the 2nd quarter. National Bank of Canada FI now owns 111,346 shares of the industrial products company’s stock valued at $9,970,000 after buying an additional 21,579 shares during the period. Allegheny Financial Group LTD boosted its stake in shares of Ingersoll Rand by 7.5% during the second quarter. Allegheny Financial Group LTD now owns 2,749 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 191 shares in the last quarter. TIAA Trust National Association increased its holdings in Ingersoll Rand by 15.4% during the second quarter. TIAA Trust National Association now owns 153,053 shares of the industrial products company’s stock valued at $13,903,000 after buying an additional 20,435 shares during the period. Resonant Capital Advisors LLC raised its stake in Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after buying an additional 133 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Ingersoll Rand by 20.3% during the second quarter. Natixis Advisors LLC now owns 150,081 shares of the industrial products company’s stock worth $13,633,000 after buying an additional 25,320 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on IR shares. Cfra reissued a “hold” rating and issued a $85.00 price target on shares of Ingersoll Rand in a research report on Friday, August 2nd. Barclays reduced their target price 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. Robert W. Baird boosted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company reduced their price objective on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.27.

Insider Activity at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

IR opened at $87.61 on Friday. The firm’s fifty day simple moving average is $92.65 and its two-hundred day simple moving average is $92.15. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $101.30. The company has a market cap of $35.34 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.45. 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 (NYSE:IR) last issued its quarterly earnings results 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

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.