Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,333 shares of the industrial products company’s stock after buying an additional 193 shares during the period. Pinnacle Associates Ltd.’s holdings in Ingersoll Rand were worth $335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Ingersoll Rand by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock valued at $2,218,134,000 after buying an additional 823,749 shares during the period. FMR LLC increased its stake in Ingersoll Rand by 3.4% during the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after buying an additional 627,146 shares during the period. State Street Corp increased its stake in Ingersoll Rand by 1.6% during the 2nd quarter. State Street Corp now owns 15,236,796 shares of the industrial products company’s stock valued at $995,877,000 after buying an additional 235,489 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ingersoll Rand by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after purchasing an additional 213,441 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Ingersoll Rand by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 8,386,114 shares of the industrial products company’s stock valued at $486,798,000 after purchasing an additional 191,089 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on IR. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. StockNews.com lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. UBS Group raised their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price objective for the company from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Read Our Latest Stock Report on IR

Ingersoll Rand Stock Performance

IR stock opened at $93.40 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The stock has a market cap of $37.68 billion, a P/E ratio of 49.26, a P/E/G ratio of 3.36 and a beta of 1.44. The firm has a 50 day simple moving average of $88.66 and a 200 day simple moving average of $76.36. Ingersoll Rand Inc. has a 52 week low of $53.24 and a 52 week high of $96.17.

Ingersoll Rand (NYSE:IRGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. Research analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Ingersoll Rand Profile

(Free Report)

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.

Further Reading

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

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