Covestor Ltd Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Covestor Ltd purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,116 shares of the industrial products company’s stock, valued at approximately $69,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Masso Torrence Wealth Management Inc. acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $27,000. Confluence Wealth Services Inc. acquired a new position in shares of Ingersoll Rand during the fourth quarter valued at $32,000. Edmond DE Rothschild Holding S.A. bought a new stake in Ingersoll Rand in the fourth quarter valued at about $34,000. Achmea Investment Management B.V. bought a new stake in Ingersoll Rand in the third quarter valued at about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Ingersoll Rand by 43.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 771 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 235 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Andrew R. Schiesl sold 33,105 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $50.09, for a total value of $1,658,229.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sia Abbaszadeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $45.69, for a total value of $2,284,500.00. The disclosure for this sale can be found here. Insiders have sold 89,105 shares of company stock valued at $4,248,009 over the last three months. Insiders own 0.69% of the company’s stock.

IR has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Ingersoll Rand in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wolfe Research downgraded Ingersoll Rand from an “outperform” rating to a “peer perform” rating in a report on Wednesday, April 6th. Morgan Stanley dropped their price objective on Ingersoll Rand from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Stifel Nicolaus dropped their price objective on Ingersoll Rand from $56.00 to $50.00 and set a “hold” rating for the company in a report on Monday, April 18th. Finally, Credit Suisse Group lowered their price target on Ingersoll Rand from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, February 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Buy” and an average target price of $64.07.

NYSE:IR opened at $43.63 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.88. The company has a market cap of $17.71 billion, a PE ratio of 24.11 and a beta of 1.48. Ingersoll Rand Inc. has a 52-week low of $41.60 and a 52-week high of $62.64. The stock has a 50-day simple moving average of $47.12 and a 200 day simple moving average of $53.51.

Ingersoll Rand (NYSE:IRGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Ingersoll Rand had a return on equity of 9.16% and a net margin of 14.12%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, research analysts predict that Ingersoll Rand Inc. will post 2.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Friday, May 20th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, May 19th. This represents a $0.08 annualized dividend and a yield of 0.18%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.42%.

About Ingersoll Rand (Get Rating)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

Read More

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

Receive News & Ratings for Ingersoll Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll Rand and related companies with MarketBeat.com's FREE daily email newsletter.