Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. decreased its stake in Ingersoll Rand Inc. (NYSE:IR) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,637 shares of the industrial products company’s stock after selling 4,337 shares during the quarter. Carderock Capital Management Inc.’s holdings in Ingersoll Rand were worth $7,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in shares of Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after acquiring an additional 3,535,543 shares during the period. Capital Research Global Investors boosted its stake in shares of Ingersoll Rand by 15.3% during the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after buying an additional 1,504,414 shares during the period. Capital World Investors acquired a new position in shares of Ingersoll Rand in the first quarter valued at approximately $440,401,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $100.39 on Thursday. 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 one year low of $59.20 and a one year high of $102.74. The business’s 50-day moving average price is $93.66 and its two-hundred day moving average price is $93.09. The company has a market capitalization of $40.50 billion, a P/E ratio of 49.95, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion for 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%. Analysts anticipate that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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 dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Buying and Selling

In other 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 sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm’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 completion of the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 0.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on IR. Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Stifel Nicolaus upped their price target on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Barclays upped their target price on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.17.

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.