New York State Common Retirement Fund Buys 20,281 Shares of Ingersoll Rand Inc. $IR

New York State Common Retirement Fund raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and 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 owned about 0.07% of Ingersoll Rand worth $22,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC lifted its holdings in Ingersoll Rand by 150.7% in the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 205 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $36,000. Heartwood Wealth Advisors LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $36,000. Gladwyn Financial Advisors Inc. purchased a new position in shares of Ingersoll Rand in the second quarter worth approximately $42,000. Finally, Legacy Investment Solutions LLC bought a new stake in Ingersoll Rand during the second quarter valued at approximately $45,000. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IR. Citigroup lifted their price target on shares of Ingersoll Rand from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Zacks Research raised Ingersoll Rand from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Robert W. Baird cut their price target on Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Stifel Nicolaus raised their price objective on Ingersoll Rand from $81.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Hold” and a consensus target price of $92.13.

Ingersoll Rand Trading Down 3.3%

Shares of IR opened at $85.94 on Friday. The firm has a market cap of $33.96 billion, a P/E ratio of 63.66, a price-to-earnings-growth ratio of 5.60 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.16 and a quick ratio of 1.51. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $95.85. The company has a 50 day simple moving average of $82.50 and a two-hundred day simple moving average of $80.76.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Ingersoll Rand had a return on equity of 12.14% and a net margin of 7.31%.Ingersoll Rand’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. On average, equities analysts expect that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 191,000 shares of the 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 completion of the transaction, the insider owned 193,186 shares of the company’s stock, valued at $17,023,550.32. This represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Scheske sold 1,477 shares of Ingersoll Rand stock in a transaction dated 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 sale, the chief accounting officer directly owned 12,153 shares in the company, valued at $979,896.39. This trade represents a 10.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.59% of the stock is owned by corporate insiders.

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.