Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Eaton Vance Management

Eaton Vance Management reduced its position in Ingersoll Rand Inc. (NYSE:IR) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,367,647 shares of the industrial products company’s stock after selling 691,167 shares during the quarter. Eaton Vance Management owned approximately 0.56% of Ingersoll Rand worth $116,512,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Eudaimonia Partners LLC acquired a new position in shares of Ingersoll Rand during the fourth quarter worth about $27,000. Logan Capital Management Inc. acquired a new position in shares of Ingersoll Rand during the first quarter worth about $31,000. E Fund Management Co. Ltd. acquired a new position in shares of Ingersoll Rand during the first quarter worth about $32,000. Freedman Financial Associates Inc. acquired a new position in shares of Ingersoll Rand during the fourth quarter worth about $32,000. Finally, Allred Capital Management LLC acquired a new position in shares of Ingersoll Rand during the first quarter worth about $35,000. 92.97% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Renaissance Aggregator L.P Kkr sold 14,924,081 shares of the company’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $48.57, for a total transaction of $724,862,614.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.69% of the company’s stock.

A number of brokerages have recently commented on IR. The Goldman Sachs Group raised Ingersoll Rand from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, July 6th. Credit Suisse Group began coverage on Ingersoll Rand in a report on Monday, June 14th. They issued a “neutral” rating and a $51.00 price target for the company. Evercore ISI upped their price target on Ingersoll Rand from $48.00 to $53.00 in a report on Wednesday, May 12th. Morgan Stanley upped their price target on Ingersoll Rand from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, May 19th. Finally, Wolfe Research raised Ingersoll Rand from a “peer perform” rating to an “outperform” rating and upped their price target for the company from $56.00 to $61.00 in a report on Monday, July 12th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Ingersoll Rand has a consensus rating of “Buy” and an average price target of $56.63.

Ingersoll Rand stock opened at $48.63 on Thursday. Ingersoll Rand Inc. has a 12 month low of $31.01 and a 12 month high of $52.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.70 and a quick ratio of 2.16. The business’s 50 day moving average is $48.31. The stock has a market capitalization of $20.40 billion, a PE ratio of 185.19 and a beta of 1.51.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, April 28th. The industrial products company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.54. Ingersoll Rand had a positive return on equity of 1.29% and a negative net margin of 1.59%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s quarterly revenue was up 94.7% compared to the same quarter last year. Sell-side analysts expect that Ingersoll Rand Inc. will post 0.1 EPS for the current fiscal year.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Industrial Technologies and Services; Precision and Science Technologies; Specialty Vehicle Technologies; and High Pressure Solutions segments.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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