Quantum Capital Management decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 37.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,373 shares of the industrial products company’s stock after selling 33,274 shares during the period. Quantum Capital Management’s holdings in Ingersoll Rand were worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. State of Wisconsin Investment Board lifted its position in Ingersoll Rand by 73.4% during the 1st quarter. State of Wisconsin Investment Board now owns 387,731 shares of the industrial products company’s stock worth $33,155,000 after buying an additional 164,145 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Ingersoll Rand by 2.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 154,216 shares of the industrial products company’s stock worth $13,189,000 after purchasing an additional 3,070 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Ingersoll Rand by 1.7% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,004 shares of the industrial products company’s stock worth $6,499,000 after purchasing an additional 1,247 shares during the last quarter. River Road Asset Management LLC raised its holdings in Ingersoll Rand by 20.5% during the 1st quarter. River Road Asset Management LLC now owns 3,644 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 621 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its stake in shares of Ingersoll Rand by 1.5% in the 1st quarter. Eagle Global Advisors LLC now owns 111,999 shares of the industrial products company’s stock valued at $9,577,000 after acquiring an additional 1,702 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.
Shares of Ingersoll Rand traded down $0.06, reaching $89.91, during midday trading on Friday, according to MarketBeat. The stock had a trading volume of 1,454,141 shares, compared to its average volume of 2,207,724. Ingersoll Rand Inc. has a 12-month low of $79.63 and a 12-month high of $97.67. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $22.31 billion, a P/E ratio of 19.94, a PEG ratio of 1.55 and a beta of 1.35.
Ingersoll Rand (NYSE:IR) last announced its earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Ingersoll Rand had a return on equity of 17.03% and a net margin of 8.96%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. equities research analysts predict that Ingersoll Rand Inc. will post 5.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.00%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 39.91%.
In other Ingersoll Rand news, Chairman Michael W. Lamach sold 58,284 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $90.30, for a total transaction of $5,263,045.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul A. Camuti sold 1,678 shares of Ingersoll Rand stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $85.15, for a total value of $142,881.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,522 shares of company stock worth $6,088,519. Company insiders own 0.70% of the company’s stock.
IR has been the subject of several research analyst reports. Zacks Investment Research lowered Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Monday, May 14th. BMO Capital Markets increased their price objective on Ingersoll Rand to $115.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Citigroup cut their price objective on Ingersoll Rand from $110.00 to $109.00 and set a “buy” rating for the company in a report on Monday, April 9th. Stifel Nicolaus reiterated a “buy” rating and set a $106.00 price objective on shares of Ingersoll Rand in a research report on Friday, February 16th. Finally, Barclays initiated coverage on Ingersoll Rand in a research report on Thursday, February 15th. They issued an “overweight” rating and a $111.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Ingersoll Rand currently has a consensus rating of “Hold” and a consensus price target of $103.77.
About Ingersoll Rand
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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