CCLA Investment Management Reduces Position in Ingersoll Rand Inc. (NYSE:IR)

CCLA Investment Management decreased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 19.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 766,936 shares of the industrial products company’s stock after selling 188,399 shares during the quarter. CCLA Investment Management owned 0.19% of Ingersoll Rand worth $69,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Ingersoll Rand in the fourth quarter worth approximately $301,890,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Ingersoll Rand by 6.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,498 shares of the industrial products company’s stock worth $2,823,000 after acquiring an additional 2,258 shares during the period. UBS Group AG increased its position in Ingersoll Rand by 105.3% during the fourth quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after acquiring an additional 1,065,413 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Ingersoll Rand by 25.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,741 shares of the industrial products company’s stock valued at $521,000 after acquiring an additional 1,363 shares during the period. Finally, D.A. Davidson & CO. purchased a new position in Ingersoll Rand in the fourth quarter worth about $301,000. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IR shares. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Cfra restated a “hold” rating and issued a $85.00 price objective on shares of Ingersoll Rand 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 report on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Ingersoll Rand Trading Up 3.3 %

IR stock opened at $93.97 on Wednesday. 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 1-year low of $59.20 and a 1-year high of $101.30. The business has a 50 day simple moving average of $92.44 and a two-hundred day simple moving average of $92.16. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Research analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were 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 was Thursday, August 15th. Ingersoll Rand’s payout ratio is presently 3.98%.

Insider Buying and Selling 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 transaction of $416,563.71. Following the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 of the company’s stock, valued at $344,571.71. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by corporate insiders.

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.