Retirement Systems of Alabama Has $6.37 Million Stake in Ingersoll Rand Inc. $IR

Retirement Systems of Alabama lessened its position in Ingersoll Rand Inc. (NYSE:IR) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,154 shares of the industrial products company’s stock after selling 9,422 shares during the period. Retirement Systems of Alabama’s holdings in Ingersoll Rand were worth $6,374,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IR. AQR Capital Management LLC raised its holdings in Ingersoll Rand by 12.7% in the 1st quarter. AQR Capital Management LLC now owns 37,078 shares of the industrial products company’s stock valued at $2,904,000 after buying an additional 4,167 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Ingersoll Rand by 4.8% during the first quarter. NewEdge Advisors LLC now owns 6,168 shares of the industrial products company’s stock valued at $494,000 after acquiring an additional 282 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Ingersoll Rand by 6.2% during the first quarter. Empowered Funds LLC now owns 7,731 shares of the industrial products company’s stock worth $619,000 after purchasing an additional 454 shares during the period. Woodline Partners LP bought a new stake in shares of Ingersoll Rand in the first quarter worth $643,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Ingersoll Rand by 37.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,525 shares of the industrial products company’s stock valued at $5,367,000 after purchasing an additional 17,537 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $85.94 on Friday. The firm has a 50 day moving average of $82.50 and a 200-day moving average of $80.80. The company has a market cap of $33.96 billion, a price-to-earnings ratio of 63.66, a price-to-earnings-growth ratio of 5.60 and a beta of 1.33. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $65.61 and a 52 week high of $95.85.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. On average, equities analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 1,477 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the sale, the chief accounting officer directly owned 12,153 shares in the company, valued at $979,896.39. This trade represents a 10.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 191,000 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the completion of the sale, the insider directly owned 193,186 shares of the company’s stock, valued at $17,023,550.32. The trade was a 49.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IR has been the topic of several recent research reports. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Citigroup lifted their price objective on Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company upped their target price on Ingersoll Rand from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 29th. Finally, Stifel Nicolaus increased their price objective on shares of Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of “Hold” and a consensus target price of $92.13.

Ingersoll Rand Company Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.