New York State Common Retirement Fund Raises Stock Position in Ingersoll Rand Inc. $IR

New York State Common Retirement Fund lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,469 shares of the industrial products company’s stock after buying an additional 20,281 shares during the period. New York State Common Retirement Fund’s holdings in Ingersoll Rand were worth $22,594,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its position in Ingersoll Rand by 1.6% in the third quarter. TD Waterhouse Canada Inc. now owns 44,071 shares of the industrial products company’s stock worth $3,681,000 after acquiring an additional 681 shares in the last quarter. one8zero8 LLC lifted its stake in shares of Ingersoll Rand by 16.9% in the 3rd quarter. one8zero8 LLC now owns 8,835 shares of the industrial products company’s stock valued at $730,000 after purchasing an additional 1,278 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ingersoll Rand by 11.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,857 shares of the industrial products company’s stock worth $5,937,000 after purchasing an additional 7,332 shares during the period. Phoenix Financial Ltd. bought a new position in shares of Ingersoll Rand during the 3rd quarter valued at approximately $221,000. Finally, Clark Financial Services Group Inc. BD raised its holdings in Ingersoll Rand by 9.9% during the 3rd quarter. Clark Financial Services Group Inc. BD now owns 4,565 shares of the industrial products company’s stock valued at $377,000 after buying an additional 412 shares during the period. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 3.3%

Shares of NYSE IR opened at $85.94 on Friday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $95.85. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 63.66, a PEG ratio of 5.60 and a beta of 1.33. The stock has a 50 day moving average price of $82.50 and a 200 day moving average price of $80.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IR shares. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Stifel Nicolaus lifted their price target on shares of Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Citigroup increased their price objective on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Zacks Research upgraded Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Finally, Robert W. Baird cut their target price on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and a consensus target price of $92.13.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 191,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $88.12, for a total transaction of $16,830,920.00. Following the transaction, the insider owned 193,186 shares of the company’s stock, valued at approximately $17,023,550.32. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the sale, the chief accounting officer owned 12,153 shares of the company’s stock, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.59% of the company’s stock.

About Ingersoll Rand

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.