Sandbar Asset Management LLP Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Sandbar Asset Management LLP grew its position in Ingersoll Rand Inc. (NYSE:IR) by 72.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,929 shares of the industrial products company’s stock after acquiring an additional 9,662 shares during the period. Ingersoll Rand comprises about 4.1% of Sandbar Asset Management LLP’s portfolio, making the stock its 4th largest holding. Sandbar Asset Management LLP’s holdings in Ingersoll Rand were worth $1,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IR. Vanguard Group Inc. boosted its position in shares of Ingersoll Rand by 1.9% in the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock valued at $2,218,134,000 after acquiring an additional 823,749 shares during the period. FMR LLC increased its stake in Ingersoll Rand by 71.6% during the 1st quarter. FMR LLC now owns 16,935,257 shares of the industrial products company’s stock worth $985,293,000 after acquiring an additional 7,066,175 shares during the period. Putnam Investments LLC raised its holdings in Ingersoll Rand by 1.6% in the 1st quarter. Putnam Investments LLC now owns 8,750,801 shares of the industrial products company’s stock valued at $509,122,000 after acquiring an additional 140,762 shares in the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 191,089 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Ingersoll Rand during the second quarter worth about $448,739,000. 94.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other news, CFO Vikram Kini sold 169,153 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $69.43, for a total transaction of $11,744,292.79. Following the completion of the sale, the chief financial officer now owns 47,917 shares in the company, valued at approximately $3,326,877.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Andrew R. Schiesl sold 9,532 shares of the firm’s stock in a transaction on 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 owns 58,263 shares in the company, valued at approximately $3,858,175.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vikram Kini sold 169,153 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $69.43, for a total transaction of $11,744,292.79. Following the transaction, the chief financial officer now directly owns 47,917 shares in the company, valued at approximately $3,326,877.31. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Morgan Stanley lifted their price target on shares of Ingersoll Rand from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Wells Fargo & Company dropped their price target on Ingersoll Rand from $76.00 to $70.00 in a research note on Monday, October 9th. The Goldman Sachs Group raised their price objective on Ingersoll Rand from $76.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Ingersoll Rand in a research note on Thursday, October 5th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.10.

Ingersoll Rand Stock Up 0.2 %

NYSE:IR traded up $0.16 on Tuesday, hitting $70.58. The stock had a trading volume of 461,189 shares, compared to its average volume of 2,448,037. Ingersoll Rand Inc. has a 1 year low of $50.75 and a 1 year high of $70.78. The firm’s fifty day simple moving average is $64.61 and its two-hundred day simple moving average is $64.43. The stock has a market cap of $28.57 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.60 and a current ratio of 2.26.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 20th will be given a $0.02 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.08 annualized dividend and a yield of 0.11%. Ingersoll Rand’s dividend payout ratio is currently 4.28%.

Ingersoll Rand Company Profile

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.