Arcadia Investment Management Corp MI Buys 1,000 Shares of Ingersoll Rand Inc. (NYSE:IR)

Arcadia Investment Management Corp MI grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,934 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Ingersoll Rand were worth $3,991,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. National Bank of Canada FI raised its position in shares of Ingersoll Rand by 24.0% in the second quarter. National Bank of Canada FI now owns 111,346 shares of the industrial products company’s stock valued at $9,970,000 after purchasing an additional 21,579 shares during the period. Allegheny Financial Group LTD raised its position in shares of Ingersoll Rand by 7.5% in the second quarter. Allegheny Financial Group LTD now owns 2,749 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 191 shares during the period. TIAA Trust National Association grew its stake in shares of Ingersoll Rand by 15.4% in the second quarter. TIAA Trust National Association now owns 153,053 shares of the industrial products company’s stock valued at $13,903,000 after acquiring an additional 20,435 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of 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 in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Ingersoll Rand by 20.3% in the second quarter. Natixis Advisors LLC now owns 150,081 shares of the industrial products company’s stock valued at $13,633,000 after acquiring an additional 25,320 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Shares of IR traded up $0.13 during mid-day trading on Friday, reaching $87.74. The company had a trading volume of 282,947 shares, compared to its average volume of 2,582,657. The company’s 50 day simple moving average is $92.65 and its 200 day simple moving average is $92.15. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $101.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company has a market capitalization of $35.40 billion, a price-to-earnings ratio of 43.59, a P/E/G ratio of 2.58 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share 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 for the quarter, compared to the consensus estimate of $1.78 billion. Analysts expect that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday. They issued an “equal weight” rating and a $97.00 price target on the stock. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Cfra reiterated a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a research note on Friday, August 2nd. Finally, Barclays reduced their price objective on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price 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.