Securian Asset Management Inc. Trims Holdings in Ingersoll Rand Inc. (NYSE:IR)

Securian Asset Management Inc. lessened its stake in Ingersoll Rand Inc. (NYSE:IRFree Report) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,016 shares of the industrial products company’s stock after selling 3,932 shares during the period. Securian Asset Management Inc.’s holdings in Ingersoll Rand were worth $1,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. acquired a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $28,000. Lazard Asset Management LLC boosted its holdings 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 period. Raleigh Capital Management Inc. increased its stake in Ingersoll Rand by 87.0% during the second quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 221 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in shares of Ingersoll Rand during the fourth quarter worth $32,000. Finally, Nemes Rush Group LLC bought a new position in shares of Ingersoll Rand in the 2nd quarter worth about $47,000. 94.54% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $77.41 on Friday. The stock has a market cap of $31.34 billion, a P/E ratio of 41.40, a P/E/G ratio of 1.85 and a beta of 1.47. The firm’s 50-day simple moving average is $72.98 and its 200 day simple moving average is $68.06. Ingersoll Rand Inc. has a fifty-two week low of $51.84 and a fifty-two week high of $78.17. The company has a quick ratio of 1.60, a current ratio of 2.26 and a debt-to-equity ratio of 0.28.

Ingersoll Rand (NYSE:IRGet Free Report) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. Equities analysts expect that Ingersoll Rand Inc. will post 2.77 EPS for the current year.

Ingersoll Rand Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IR. Stifel Nicolaus raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, October 24th. Wells Fargo & Company upped their target price on Ingersoll Rand from $73.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Cfra raised their price target on Ingersoll Rand from $66.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. Citigroup upped 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 issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.50.

View Our Latest Research Report on IR

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.

Further Reading

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

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