Dakota Wealth Management Has $2.98 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Dakota Wealth Management cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,751 shares of the industrial products company’s stock after selling 2,529 shares during the quarter. Dakota Wealth Management’s holdings in Ingersoll Rand were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter worth $28,000. Riverview Trust Co bought a new stake in Ingersoll Rand in the first quarter worth $29,000. Kapitalo Investimentos Ltda bought a new stake in Ingersoll Rand in the fourth quarter worth $28,000. ESL Trust Services LLC bought a new stake in Ingersoll Rand in the first quarter worth $35,000. Finally, Scarborough Advisors LLC bought a new stake in Ingersoll Rand in the fourth quarter worth $32,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

IR traded down $0.47 during midday trading on Tuesday, reaching $90.48. 421,300 shares of the company’s stock were exchanged, compared to its average volume of 2,643,450. The firm has a market capitalization of $36.50 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 2.68 and a beta of 1.45. The company has a quick ratio of 1.71, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30. The business has a 50-day simple moving average of $93.31 and a two-hundred day simple moving average of $91.82.

Ingersoll Rand announced that its board has approved a share repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is 3.98%.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $9,284,951.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,867 shares of company stock worth $23,494,392. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Evercore ISI decreased their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday. Barclays decreased their price target 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, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $100.27.

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.