74,778 Shares in Ingersoll Rand Inc. (NYSE:IR) Bought by Glenview Trust Co
Glenview Trust Co bought a new position in Ingersoll Rand Inc. (NYSE:IR – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 74,778 shares of the industrial products company’s stock, valued at approximately $4,887,000.
A number of other large investors also recently modified their holdings of the company. Quintet Private Bank Europe S.A. purchased a new stake in Ingersoll Rand in the 1st quarter valued at $26,000. Raleigh Capital Management Inc. raised its position in Ingersoll Rand by 87.0% in the 2nd quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock valued at $31,000 after buying an additional 221 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in Ingersoll Rand in the 4th quarter valued at $32,000. Farmers & Merchants Investments Inc. raised its position in Ingersoll Rand by 127.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 679 shares of the industrial products company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Ingersoll Rand in the 2nd quarter valued at $47,000. 94.54% of the stock is currently owned by institutional investors.
Ingersoll Rand Price Performance
NYSE IR traded up $0.81 during trading hours on Friday, hitting $72.24. The company had a trading volume of 2,432,611 shares, compared to its average volume of 2,409,428. Ingersoll Rand Inc. has a 52 week low of $50.75 and a 52 week high of $72.73. The firm has a 50 day simple moving average of $65.49 and a 200 day simple moving average of $65.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.60 and a current ratio of 2.26. The firm has a market capitalization of $29.24 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 2.04 and a beta of 1.49.
Ingersoll Rand (NYSE:IR – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. Ingersoll Rand had a return on equity of 11.82% and a net margin of 11.47%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.69 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 2.78 earnings per share for the current year.
Ingersoll Rand Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, November 17th. Ingersoll Rand’s payout ratio is 4.28%.
Insider Transactions at Ingersoll Rand
In other Ingersoll Rand news, CFO Vikram Kini sold 169,153 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $69.43, for a total value of $11,744,292.79. Following the completion of the sale, the chief financial officer now owns 47,917 shares of the company’s stock, valued at $3,326,877.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 9,532 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.22, for a total value of $631,209.04. Following the completion of the sale, the insider now owns 58,263 shares of the company’s stock, valued at $3,858,175.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vikram Kini sold 169,153 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $69.43, for a total value of $11,744,292.79. Following the completion of the sale, the chief financial officer now owns 47,917 shares of the company’s stock, valued at approximately $3,326,877.31. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Ingersoll Rand from $76.00 to $70.00 in a research report on Monday, October 9th. Barclays decreased their target price on Ingersoll Rand from $76.00 to $74.00 in a research report on Thursday, September 7th. StockNews.com assumed coverage on Ingersoll Rand in a research report on Thursday, October 5th. They set a “hold” rating for the company. Stifel Nicolaus raised Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, October 24th. Finally, Robert W. Baird raised their target price on Ingersoll Rand from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.10.
Get Our Latest Analysis on Ingersoll Rand
About Ingersoll Rand (Free Report)
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
Further Reading
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Original: MarketBeat News Feed: 74,778 Shares in Ingersoll Rand Inc. (NYSE:IR) Bought by Glenview Trust Co