Arcadia Investment Management Corp MI Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Arcadia Investment Management Corp MI boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 44,344 shares of the industrial products company’s stock after buying an additional 410 shares during the period. Arcadia Investment Management Corp MI’s holdings in Ingersoll Rand were worth $4,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors grew its position in Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. Capital World Investors bought a new position in Ingersoll Rand during the first quarter valued at approximately $440,401,000. JPMorgan Chase & Co. grew its position in Ingersoll Rand by 28.4% during the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after acquiring an additional 3,535,543 shares during the last quarter. Capital Research Global Investors grew its position in Ingersoll Rand by 15.3% during the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Finally, Swedbank AB bought a new position in Ingersoll Rand during the first quarter valued at approximately $55,310,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 in the last quarter. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Cfra raised their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Barclays raised their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Stock Performance

NYSE:IR opened at $93.97 on Friday. The stock has a market cap of $37.92 billion, a P/E ratio of 45.84, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The firm’s fifty day simple moving average is $95.32 and its 200 day simple moving average is $93.47. Ingersoll Rand Inc. has a twelve month low of $62.12 and a twelve month high of $102.74. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a return on equity of 13.14% and a net margin of 11.72%. As a group, research analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.