Ingersoll Rand Inc. $IR Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,329 shares of the industrial products company’s stock after selling 589 shares during the period. New York Life Investment Management LLC’s holdings in Ingersoll Rand were worth $5,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Wealth Management LLC lifted its stake in shares of Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Ingersoll Rand by 190.9% during the first quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company’s stock worth $38,000 after buying an additional 313 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ingersoll Rand by 136.4% during the first quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 285 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ingersoll Rand during the first quarter worth $40,000. Finally, Gladwyn Financial Advisors Inc. purchased a new position in shares of Ingersoll Rand during the second quarter worth $42,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IR shares. Robert W. Baird raised their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Citigroup reissued a “buy” rating and set a $104.00 target price (up previously from $91.00) on shares of Ingersoll Rand in a report on Monday, July 14th. Morgan Stanley reduced their target price on shares of Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Barclays reduced their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $98.09.

Ingersoll Rand Stock Up 0.9%

IR opened at $79.53 on Thursday. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The company has a fifty day moving average of $79.90 and a two-hundred day moving average of $80.74. The stock has a market capitalization of $31.61 billion, a price-to-earnings ratio of 62.13, a PEG ratio of 4.70 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. Ingersoll Rand’s payout ratio is currently 6.25%.

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.