Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,908 shares of the industrial products company’s stock after buying an additional 523 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ingersoll Rand were worth $3,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IR. OFI Invest Asset Management purchased a new stake in Ingersoll Rand in the 3rd quarter valued at about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in Ingersoll Rand in the 4th quarter valued at about $27,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth about $28,000. Clearstead Advisors LLC grew its holdings in shares of Ingersoll Rand by 348.2% during the 3rd quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 383 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. BNP Paribas assumed coverage on Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Cfra boosted their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group boosted their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $90.56 on Wednesday. The stock’s 50 day moving average price is $91.42 and its 200 day moving average price is $79.27. The firm has a market capitalization of $36.54 billion, a PE ratio of 47.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. Ingersoll Rand Inc. has a one year low of $53.24 and a one year high of $96.17.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. As a group, sell-side analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were issued a $0.02 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 4.21%.

Insider Activity

In other news, insider Andrew R. Schiesl sold 10,421 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the completion of the sale, the insider now directly owns 48,904 shares in the company, valued at approximately $4,398,914.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total value of $937,368.95. Following the transaction, the insider now owns 48,904 shares of the company’s stock, valued at $4,398,914.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by insiders.

Ingersoll Rand Company Profile

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.