BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 28,938 Shares of Ingersoll Rand Inc. (NYSE:IR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 59.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,268 shares of the industrial products company's stock after buying an additional 28,938 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Ingersoll Rand were worth $7,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust raised its holdings in Ingersoll Rand by 2.0% in the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company's stock worth $562,000 after purchasing an additional 118 shares during the period. Wealthspire Advisors LLC lifted its holdings in Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company's stock worth $206,000 after acquiring an additional 119 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock worth $42,000 after acquiring an additional 126 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company's stock valued at $300,000 after acquiring an additional 133 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Ingersoll Rand by 28.4% in the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company's stock worth $60,000 after acquiring an additional 141 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Andrew R. Schiesl sold 15,381 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Kathleen M. Keene sold 4,629 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. Company insiders own 0.68% of the company's stock.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $1.27 during trading on Friday, reaching $97.68. 2,583,831 shares of the stock were exchanged, compared to its average volume of 2,582,854. The firm has a market cap of $39.41 billion, a PE ratio of 47.97, a PEG ratio of 2.75 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $101.30. The stock has a 50-day moving average price of $92.30 and a 200-day moving average price of $92.42.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.78 billion. Research analysts expect that Ingersoll Rand Inc. will post 3.21 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. Stockholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand's dividend payout ratio (DPR) is currently 3.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IR. Jefferies Financial Group started coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They set a "buy" rating and a $110.00 price objective for the company. Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating on the stock in a research note on Monday, August 19th. Morgan Stanley assumed coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price objective for the company. Cfra restated a "hold" rating and issued a $85.00 target price on shares of Ingersoll Rand in a research note on Friday, August 2nd. Finally, Robert W. Baird raised their price target on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

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.