Ingersoll Rand Inc. $IR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,979 shares of the industrial products company’s stock after selling 22,035 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Ingersoll Rand worth $64,368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its holdings in shares of Ingersoll Rand by 6.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,658 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 160 shares during the last quarter. North Dakota State Investment Board lifted its stake in Ingersoll Rand by 1.4% during the third quarter. North Dakota State Investment Board now owns 11,987 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 165 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in Ingersoll Rand by 5.0% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 3,647 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 174 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in Ingersoll Rand by 6.7% in the first quarter. Personal CFO Solutions LLC now owns 2,818 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 176 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Ingersoll Rand by 0.6% in the third quarter. V Square Quantitative Management LLC now owns 37,070 shares of the industrial products company’s stock valued at $2,784,000 after purchasing an additional 214 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $84.48 on Wednesday. The stock has a market cap of $32.44 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.43 and a beta of 1.15. Ingersoll Rand Inc. has a twelve month low of $68.07 and a twelve month high of $100.96. The stock has a 50 day moving average of $76.45 and a two-hundred day moving average of $81.22. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, October 29th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.05 billion. Ingersoll Rand had a net margin of 17.20% and a return on equity of 13.47%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.41 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, November 12th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 2.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IR shares. Morgan Stanley set a $87.00 price objective on shares of Ingersoll Rand in a report on Monday, August 10th. Wall Street Zen cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Citigroup reaffirmed a “buy” rating on shares of Ingersoll Rand in a research report on Monday, October 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, October 19th. Finally, Robert W. Baird reduced their price target on shares of Ingersoll Rand from $109.00 to $107.00 and set an “outperform” rating for the company in a research report on Monday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $95.00.

About Ingersoll Rand

Ingersoll Rand Inc (NYSE:IR) is a global provider of mission-critical industrial technologies and solutions. The company designs and manufactures equipment used to manage air, gas, fluids, and other industrial processes, serving customers in manufacturing, energy, food and beverage, life sciences, transportation, and other markets.

Its portfolio includes air compressors, vacuum and blower systems, fluid-handling equipment, pumps, dosing and dispensing systems, and related aftermarket parts and services.