Douglas Lane & Associates LLC Sells 59,911 Shares of Ingersoll Rand Inc. (NYSE:IR)

Douglas Lane & Associates LLC reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 912,403 shares of the industrial products company’s stock after selling 59,911 shares during the quarter. Ingersoll Rand makes up about 1.2% of Douglas Lane & Associates LLC’s holdings, making the stock its 25th largest position. Douglas Lane & Associates LLC’s holdings in Ingersoll Rand were worth $89,562,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock valued at $46,948,000 after purchasing an additional 96,982 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new position in shares of Ingersoll Rand in the first quarter valued at $1,221,000. Swedbank AB grew its position in shares of Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Ingersoll Rand in the first quarter valued at $889,000. Finally, Empowered Funds LLC grew its position in shares of Ingersoll Rand by 1,077.0% in the first quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock valued at $4,698,000 after purchasing an additional 45,279 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Activity

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the 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 owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the 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 owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. 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. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IR shares. Stifel Nicolaus lifted their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Cfra boosted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. 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. Finally, Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Ingersoll Rand Price Performance

IR stock traded up $2.20 during mid-day trading on Friday, hitting $100.76. 2,254,436 shares of the stock were exchanged, compared to its average volume of 2,578,926. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The business has a fifty day moving average price of $92.84 and a 200 day moving average price of $92.96. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.41. The stock has a market capitalization of $40.65 billion, a price-to-earnings ratio of 50.13, a PEG ratio of 2.72 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its 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 return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 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.