2,219 Shares in Ingersoll Rand Inc. (NYSE:IR) Purchased by Patron Partners LLC

Patron Partners LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the second quarter, Holdings Channel.com reports. The fund bought 2,219 shares of the industrial products company’s stock, valued at approximately $202,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Candriam S.C.A. grew its stake in shares of Ingersoll Rand by 3.0% in the second quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock worth $18,114,000 after acquiring an additional 5,797 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in Ingersoll Rand by 2.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 43,934 shares of the industrial products company’s stock valued at $3,991,000 after purchasing an additional 1,000 shares during the period. National Bank of Canada FI grew 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 worth $9,970,000 after purchasing an additional 21,579 shares during the last quarter. Allegheny Financial Group LTD increased its holdings in shares of Ingersoll Rand by 7.5% during the 2nd quarter. Allegheny Financial Group LTD now owns 2,749 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 191 shares during the period. Finally, TIAA Trust National Association raised its position in shares of 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 last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Shares of NYSE:IR traded down $0.77 during trading on Friday, reaching $86.84. The stock had a trading volume of 2,539,668 shares, compared to its average volume of 2,595,778. The stock has a market capitalization of $35.03 billion, a PE ratio of 43.22, a P/E/G ratio of 2.58 and a beta of 1.45. 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 Inc. has a 52 week low of $59.20 and a 52 week high of $101.30. The business’s 50-day moving average price is $92.57 and its 200 day moving average price is $92.13.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings data 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. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. As a group, equities analysts predict that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The business 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 annualized dividend and a yield of 0.09%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is presently 3.98%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IR shares. Cfra restated a “hold” rating and set a $85.00 price target on shares of Ingersoll Rand in a research note on Friday, August 2nd. Morgan Stanley initiated coverage on Ingersoll Rand in a research report on Friday. They set an “equal weight” rating and a $97.00 price objective on the stock. Evercore ISI reduced their target price 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. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock 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 firm’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 value of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the business’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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,510 shares of company stock valued at $7,108,005. Insiders own 0.68% of the company’s stock.

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.