Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Ethic Inc.

Ethic Inc. boosted its position in Ingersoll Rand Inc. (NYSE:IR) by 158.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,529 shares of the industrial products company’s stock after purchasing an additional 14,439 shares during the quarter. Ethic Inc.’s holdings in Ingersoll Rand were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of Ingersoll Rand by 31.1% during the 1st quarter. CIBC Asset Management Inc now owns 32,951 shares of the industrial products company’s stock valued at $1,622,000 after acquiring an additional 7,808 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Ingersoll Rand by 6.7% during the 1st quarter. TD Asset Management Inc. now owns 1,690,451 shares of the industrial products company’s stock valued at $83,187,000 after acquiring an additional 106,524 shares during the last quarter. Cowen Prime Advisors LLC acquired a new position in shares of Ingersoll Rand during the 2nd quarter valued at about $80,000. Fox Run Management L.L.C. acquired a new position in shares of Ingersoll Rand during the 1st quarter valued at about $411,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Ingersoll Rand by 13.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,898,101 shares of the industrial products company’s stock valued at $585,507,000 after acquiring an additional 1,403,832 shares during the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on IR shares. Wolfe Research raised shares of Ingersoll Rand from a “peer perform” rating to an “outperform” rating and increased their target price for the stock from $56.00 to $61.00 in a research report on Monday, July 12th. Deutsche Bank Aktiengesellschaft raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.00 to $54.00 in a research report on Tuesday, May 25th. Vertical Research raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and increased their target price for the stock from $52.00 to $54.00 in a research report on Thursday, June 17th. Jefferies Financial Group started coverage on Ingersoll Rand in a report on Monday. They issued a “buy” rating and a $64.00 price target for the company. Finally, The Goldman Sachs Group upgraded Ingersoll Rand from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, July 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $59.13.

Ingersoll Rand stock opened at $53.55 on Wednesday. The stock has a market cap of $22.50 billion, a P/E ratio of 69.55 and a beta of 1.52. The company has a current ratio of 3.13, a quick ratio of 2.70 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $50.56 and a 200-day moving average of $49.56. Ingersoll Rand Inc. has a 52 week low of $34.02 and a 52 week high of $55.62.

Ingersoll Rand (NYSE:IR) last released its earnings results on Wednesday, July 28th. The industrial products company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.49. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Ingersoll Rand had a return on equity of 5.12% and a net margin of 5.91%. As a group, equities analysts predict that Ingersoll Rand Inc. will post 1.73 earnings per share for the current fiscal year.

In related news, insider Vicente Reynal sold 30,000 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $55.00, for a total transaction of $1,650,000.00. Following the transaction, the insider now directly owns 108,427 shares in the company, valued at $5,963,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sia Abbaszadeh sold 45,000 shares of the stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $50.89, for a total value of $2,290,050.00. Following the completion of the sale, the insider now directly owns 64,957 shares in the company, valued at $3,305,661.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,975 shares of company stock valued at $6,847,128. Company insiders own 0.69% of the company’s stock.

Ingersoll Rand Company Profile

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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

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