Ingersoll Rand Inc. $IR Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 856,979 shares of the industrial products company’s stock after selling 22,035 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ingersoll Rand were worth $64,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of IR. BlackRock Inc. purchased a new stake in shares of Ingersoll Rand during the second quarter worth approximately $2,484,319,000. Jupiter Topco LLC purchased a new stake in shares of Ingersoll Rand in the second quarter valued at about $547,628,000. Bank of New York Mellon Corp purchased a new stake in Ingersoll Rand in the 2nd quarter valued at approximately $328,309,000. Bank of America Corp DE acquired a new position in Ingersoll Rand during the second quarter worth $204,329,000. Finally, Legal & General Group Plc acquired a new position in shares of Ingersoll Rand during the 2nd quarter worth $169,143,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, October 19th. Wall Street Zen downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective (up from $93.00) on shares of Ingersoll Rand in a research report on Monday. Robert W. Baird decreased their price objective on Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Morgan Stanley set a $87.00 target price on shares of Ingersoll Rand in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $84.48 on Wednesday. The firm has a market capitalization of $32.44 billion, a P/E ratio of 23.37, a PEG ratio of 3.43 and a beta of 1.15. The stock has a fifty day moving average price of $76.45 and a 200 day moving average price of $81.22. Ingersoll Rand Inc. has a 52 week low of $68.07 and a 52 week high of $100.96. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, October 29th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. Ingersoll Rand had a return on equity of 13.47% and a net margin of 17.20%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Equities research analysts anticipate that Ingersoll Rand Inc. will post 3.41 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, November 12th. Ingersoll Rand’s dividend payout ratio is presently 2.25%.

Ingersoll Rand Profile

Ingersoll Rand Inc (NYSE:IR) is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.