UniSuper Management Pty Ltd Purchases New Shares in Ingersoll Rand Inc. (NYSE:IR)

UniSuper Management Pty Ltd purchased a new stake in Ingersoll Rand Inc. (NYSE:IR – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 124,372 shares of the industrial products company’s stock, valued at approximately $23,422,000.

A number of other institutional investors have also made changes to their positions in the business. Quintet Private Bank Europe S.A. acquired a new stake in Ingersoll Rand in the first quarter worth about $26,000. Raleigh Capital Management Inc. increased its position in Ingersoll Rand by 87.0% in the second quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 221 shares during the period. Compass Wealth Management LLC acquired a new position in shares of Ingersoll Rand during the 4th quarter worth about $32,000. Farmers & Merchants Investments Inc. grew its position in shares of Ingersoll Rand by 127.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 679 shares of the industrial products company’s stock worth $40,000 after buying an additional 380 shares during the period. Finally, Clear Street Markets LLC grew its position in shares of Ingersoll Rand by 93.9% during the 1st quarter. Clear Street Markets LLC now owns 793 shares of the industrial products company’s stock worth $46,000 after buying an additional 384 shares during the period. 94.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IR has been the subject of several analyst reports. Cfra boosted their target price on Ingersoll Rand from $66.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. StockNews.com initiated coverage on Ingersoll Rand in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company decreased their target price on Ingersoll Rand from $76.00 to $70.00 in a research report on Monday, October 9th. Stifel Nicolaus upgraded Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, October 24th. Finally, Barclays decreased their target price on Ingersoll Rand from $76.00 to $74.00 in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $71.10.

Check Out Our Latest Research Report on IR

Insider Activity at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 9,532 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.22, for a total value of $631,209.04. Following the transaction, the insider now owns 58,263 shares in the company, valued at $3,858,175.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.83% of the stock is owned by company insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $71.96 on Wednesday. Ingersoll Rand Inc. has a twelve month low of $50.75 and a twelve month high of $72.73. The stock’s 50 day moving average price is $65.83 and its 200-day moving average price is $65.37. The company has a market capitalization of $29.13 billion, a PE ratio of 38.48, a PEG ratio of 2.06 and a beta of 1.49. The company has a quick ratio of 1.60, a current ratio of 2.26 and a debt-to-equity ratio of 0.28.

Ingersoll Rand (NYSE:IR – Get Free Report) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.69 billion. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 2.78 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 20th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Ingersoll Rand’s payout ratio is presently 4.28%.

About Ingersoll Rand

(Free Report)

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.

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