LifePro Asset Management Has $488,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

by · The Markets Daily

LifePro Asset Management lessened its stake in Ingersoll Rand Inc. (NYSE:IR – Free Report) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,971 shares of the industrial products company’s stock after selling 2,162 shares during the quarter. LifePro Asset Management’s holdings in Ingersoll Rand were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IR. Capital International Investors raised its stake in Ingersoll Rand by 113.7% in the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after acquiring an additional 13,919,775 shares during the period. Capital World Investors bought a new position in shares of Ingersoll Rand in the first quarter valued at about $440,401,000. JPMorgan Chase & Co. lifted its stake in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after buying an additional 3,535,543 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after buying an additional 1,504,414 shares during the period. Finally, Swedbank AB bought a new stake in shares of Ingersoll Rand during the 1st quarter worth about $55,310,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

IR stock opened at $98.55 on Friday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 48.79, a P/E/G ratio of 2.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The company has a 50 day simple moving average of $92.42 and a 200 day simple moving average of $92.89. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $101.41.

Ingersoll Rand (NYSE:IR – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion during 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%. Research analysts anticipate that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is presently 3.96%.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IR shares. Robert W. Baird boosted their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Evercore ISI reduced their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Stifel Nicolaus upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Check Out Our Latest Stock Report on Ingersoll Rand

Ingersoll Rand Company Profile

(Free Report)

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.

Further Reading

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