Duality Advisers LP Cuts Position in Ingersoll Rand Inc. (NYSE:IR)

Duality Advisers LP lowered its position in Ingersoll Rand Inc. (NYSE:IR) by 50.1% in the fourth quarter, Holdings Channel reports. The fund owned 22,410 shares of the industrial products company’s stock after selling 22,486 shares during the period. Duality Advisers LP’s holdings in Ingersoll Rand were worth $1,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth about $216,000. CWM LLC boosted its holdings in Ingersoll Rand by 5.1% in the third quarter. CWM LLC now owns 10,188 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 498 shares in the last quarter. IFP Advisors Inc increased its stake in Ingersoll Rand by 1,016.7% in the third quarter. IFP Advisors Inc now owns 10,944 shares of the industrial products company’s stock valued at $697,000 after purchasing an additional 9,964 shares during the last quarter. Global Retirement Partners LLC increased its stake in Ingersoll Rand by 11.9% in the third quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 191 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Ingersoll Rand during the third quarter worth approximately $219,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 0.3 %

NYSE:IR opened at $88.63 on Tuesday. Ingersoll Rand Inc. has a 12-month low of $53.24 and a 12-month high of $96.17. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $91.31 and its 200-day simple moving average is $79.08. The firm has a market cap of $35.76 billion, a P/E ratio of 46.65, a PEG ratio of 3.08 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now owns 91,957 shares in the company, valued at $8,290,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares in the company, valued at $854,920. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock worth $26,374,789 over the last 90 days. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, January 29th. BNP Paribas initiated coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. StockNews.com raised Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Sunday, April 7th. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, Citigroup lifted their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Profile

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.