Horizon Investment Services LLC Has $2.67 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Horizon Investment Services LLC cut its stake in Ingersoll Rand Inc. (NYSE:IR) by 15.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,437 shares of the industrial products company’s stock after selling 5,538 shares during the period. Ingersoll Rand makes up about 1.3% of Horizon Investment Services LLC’s portfolio, making the stock its 26th biggest holding. Horizon Investment Services LLC’s holdings in Ingersoll Rand were worth $2,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of IR. National Bank of Canada FI grew its stake in Ingersoll Rand by 24.0% during the second quarter. National Bank of Canada FI now owns 111,346 shares of the industrial products company’s stock worth $9,970,000 after purchasing an additional 21,579 shares during the period. Allegheny Financial Group LTD increased its position in Ingersoll Rand by 7.5% in the second quarter. Allegheny Financial Group LTD now owns 2,749 shares of the industrial products company’s stock worth $250,000 after buying an additional 191 shares during the last quarter. TIAA Trust National Association grew its position in shares of Ingersoll Rand by 15.4% in the second quarter. TIAA Trust National Association now owns 153,053 shares of the industrial products company’s stock valued at $13,903,000 after purchasing an additional 20,435 shares in the last quarter. Resonant Capital Advisors LLC grew its position in shares of Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Ingersoll Rand by 20.3% in the second quarter. Natixis Advisors LLC now owns 150,081 shares of the industrial products company’s stock valued at $13,633,000 after purchasing an additional 25,320 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Up 0.4 %

NYSE IR opened at $87.61 on Friday. The firm has a market cap of $35.34 billion, a PE ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.45. The firm’s fifty day moving average is $92.65 and its two-hundred day moving average is $92.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $101.30.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IR shares. Robert W. Baird boosted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Cfra reiterated a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a report on Friday, August 2nd. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday. They issued an “equal weight” rating and a $97.00 price target on the stock. Evercore ISI lowered their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Finally, Stifel Nicolaus increased their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $100.00.

About Ingersoll Rand

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.