Ethic Inc. Has $1.15 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

Ethic Inc. boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 158.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,529 shares of the industrial products company’s stock after buying an additional 14,439 shares during the quarter. Ethic Inc.’s holdings in Ingersoll Rand were worth $1,148,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. IndexIQ Advisors LLC boosted its stake in Ingersoll Rand by 3.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 6,176 shares of the industrial products company’s stock valued at $301,000 after buying an additional 226 shares in the last quarter. HighTower Advisors LLC raised its position in Ingersoll Rand by 1.3% in the 1st quarter. HighTower Advisors LLC now owns 18,293 shares of the industrial products company’s stock valued at $897,000 after purchasing an additional 228 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Ingersoll Rand by 0.4% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 70,879 shares of the industrial products company’s stock valued at $3,460,000 after purchasing an additional 313 shares during the last quarter. State of Michigan Retirement System raised its position in Ingersoll Rand by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 93,893 shares of the industrial products company’s stock valued at $4,583,000 after purchasing an additional 400 shares during the last quarter. Finally, Profund Advisors LLC raised its position in Ingersoll Rand by 8.9% in the 1st quarter. Profund Advisors LLC now owns 4,909 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 403 shares during the last quarter. 95.51% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Gary E. Gillespie sold 54,975 shares of the company’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $52.88, for a total transaction of $2,907,078.00. Following the completion of the transaction, the insider now directly owns 75,014 shares of the company’s stock, valued at $3,966,740.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 30,000 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $55.00, for a total value of $1,650,000.00. Following the transaction, the insider now directly owns 108,427 shares of the company’s stock, valued at $5,963,485. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,975 shares of company stock valued at $6,847,128. Insiders own 0.69% of the company’s stock.

NYSE IR opened at $53.55 on Wednesday. The stock has a 50-day simple moving average of $50.56 and a 200 day simple moving average of $49.56. The company has a market capitalization of $22.50 billion, a PE ratio of 69.55 and a beta of 1.52. The company has a current ratio of 3.13, a quick ratio of 2.70 and a debt-to-equity ratio of 0.41. Ingersoll Rand Inc. has a 12 month low of $34.02 and a 12 month high of $55.62.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, July 28th. The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.49. Ingersoll Rand had a return on equity of 5.12% and a net margin of 5.91%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.19 billion. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 1.73 earnings per share for the current fiscal year.

IR has been the subject of several research analyst reports. Citigroup initiated coverage on Ingersoll Rand in a research report on Friday, September 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Credit Suisse Group lifted their price objective on Ingersoll Rand from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, July 30th. Vertical Research upgraded Ingersoll Rand from a “hold” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $54.00 in a research report on Thursday, June 17th. Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 10th. They set an “overweight” rating and a $60.00 target price for the company. Finally, Wolfe Research upgraded Ingersoll Rand from a “peer perform” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $61.00 in a research report on Monday, July 12th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $59.13.

Ingersoll Rand Company Profile

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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