Candriam S.C.A. Boosts Holdings in Ingersoll Rand Inc. $IR

Candriam S.C.A. raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 36.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 127,602 shares of the industrial products company’s stock after buying an additional 34,004 shares during the period. Candriam S.C.A.’s holdings in Ingersoll Rand were worth $10,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its holdings in Ingersoll Rand by 150.7% during the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 205 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in Ingersoll Rand in the third quarter valued at approximately $36,000. Grey Fox Wealth Advisors LLC purchased a new stake in Ingersoll Rand in the 3rd quarter worth approximately $36,000. Westside Investment Management Inc. grew its stake in shares of Ingersoll Rand by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 464 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 232 shares during the period. Finally, Gladwyn Financial Advisors Inc. purchased a new position in shares of Ingersoll Rand during the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on IR shares. Robert W. Baird dropped their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Monday, December 29th. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Citigroup raised their price objective on Ingersoll Rand from $94.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company upped their target price on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.13.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 1,477 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $80.63, for a total value of $119,090.51. Following the completion of the transaction, the chief accounting officer directly owned 12,153 shares of the company’s stock, valued at approximately $979,896.39. This represents a 10.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vicente Reynal sold 191,000 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $88.12, for a total value of $16,830,920.00. Following the completion of the transaction, the insider owned 193,186 shares in the company, valued at $17,023,550.32. The trade was a 49.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 292,477 shares of company stock valued at $26,703,912 in the last three months. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Down 0.6%

IR opened at $97.80 on Wednesday. The company has a market cap of $38.64 billion, a PE ratio of 72.44, a price-to-earnings-growth ratio of 6.11 and a beta of 1.32. Ingersoll Rand Inc. has a twelve month low of $65.61 and a twelve month high of $99.54. The company has a 50-day moving average price of $84.79 and a 200 day moving average price of $81.18. The company has a quick ratio of 1.51, a current ratio of 2.16 and a debt-to-equity ratio of 0.47.

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.