ING Groep NV Grows Position in Ingersoll Rand Inc. (NYSE:IR)

ING Groep NV lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,769 shares of the industrial products company’s stock after buying an additional 5,084 shares during the period. ING Groep NV’s holdings in Ingersoll Rand were worth $3,235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. purchased a new position in Ingersoll Rand in the third quarter worth about $28,000. Lazard Asset Management LLC boosted its position in Ingersoll Rand by 1,566.7% in the second quarter. Lazard Asset Management LLC now owns 450 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 423 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Ingersoll Rand by 87.0% in the second quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 221 shares during the last quarter. Compass Wealth Management LLC purchased a new position in Ingersoll Rand in the fourth quarter worth about $32,000. Finally, Nemes Rush Group LLC purchased a new position in Ingersoll Rand in the second quarter worth about $47,000. 94.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 9,532 shares of Ingersoll Rand stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.22, for a total value of $631,209.04. Following the completion of the transaction, the insider now owns 58,263 shares in the company, valued at approximately $3,858,175.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Andrew R. Schiesl sold 13,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $71.89, for a total transaction of $934,570.00. Following the completion of the transaction, the insider now owns 45,263 shares in the company, valued at approximately $3,253,957.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew R. Schiesl sold 9,532 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.22, for a total value of $631,209.04. Following the transaction, the insider now owns 58,263 shares of the company’s stock, valued at approximately $3,858,175.86. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $77.41 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.26 and a quick ratio of 1.60. Ingersoll Rand Inc. has a 1 year low of $51.84 and a 1 year high of $78.17. The stock’s 50 day simple moving average is $72.98 and its two-hundred day simple moving average is $68.06. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 1.85 and a beta of 1.47.

Ingersoll Rand (NYSE:IRGet Free Report) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.69 billion. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. As a group, equities analysts anticipate that Ingersoll Rand Inc. will post 2.77 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 20th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date was Friday, November 17th. Ingersoll Rand’s dividend payout ratio (DPR) is 4.28%.

Analysts Set New Price Targets

Several research analysts have issued reports on IR shares. Wells Fargo & Company raised their target price on Ingersoll Rand from $73.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. Stifel Nicolaus raised Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, October 24th. Cfra raised their price objective on Ingersoll Rand from $66.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, November 2nd. Citigroup raised their price objective on Ingersoll Rand from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, StockNews.com started coverage on Ingersoll Rand in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.50.

Read Our Latest Analysis on Ingersoll Rand

About Ingersoll Rand

(Free Report)

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

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

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