Aviva PLC Grows Position in Ingersoll Rand Inc. (NYSE:IR)

Aviva PLC grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,855 shares of the industrial products company’s stock after purchasing an additional 1,611 shares during the quarter. Aviva PLC’s holdings in Ingersoll Rand were worth $5,655,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IR. Victory Capital Management Inc. lifted its stake in Ingersoll Rand by 0.9% in the first quarter. Victory Capital Management Inc. now owns 131,992 shares of the industrial products company’s stock worth $6,495,000 after acquiring an additional 1,155 shares during the period. Envestnet Asset Management Inc. lifted its stake in Ingersoll Rand by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 180,485 shares of the industrial products company’s stock worth $8,882,000 after acquiring an additional 7,909 shares during the period. Natixis Advisors L.P. lifted its stake in Ingersoll Rand by 5.1% in the first quarter. Natixis Advisors L.P. now owns 98,313 shares of the industrial products company’s stock worth $4,837,000 after acquiring an additional 4,727 shares during the period. Commerce Bank lifted its stake in Ingersoll Rand by 4.5% in the first quarter. Commerce Bank now owns 54,347 shares of the industrial products company’s stock worth $2,674,000 after acquiring an additional 2,360 shares during the period. Finally, Wesbanco Bank Inc. purchased a new stake in Ingersoll Rand in the first quarter worth $786,000. 95.51% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on IR shares. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 10th. They issued an “overweight” rating and a $60.00 price target for the company. Jefferies Financial Group started coverage on Ingersoll Rand in a research note on Monday. They issued a “buy” rating and a $64.00 price target for the company. Credit Suisse Group increased their price objective on Ingersoll Rand from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, July 30th. Vertical Research upgraded Ingersoll Rand from a “hold” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $54.00 in a report on Thursday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ingersoll Rand from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $54.00 in a report on Tuesday, May 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Buy” and an average target price of $59.13.

Shares of NYSE:IR opened at $54.57 on Friday. Ingersoll Rand Inc. has a 1-year low of $34.02 and a 1-year high of $55.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.13 and a quick ratio of 2.70. The business has a fifty day moving average price of $50.80 and a 200-day moving average price of $49.63. The company has a market capitalization of $22.93 billion, a PE ratio of 70.87 and a beta of 1.52.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 28th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.49. Ingersoll Rand had a return on equity of 5.12% and a net margin of 5.91%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.19 billion. On average, sell-side analysts anticipate that Ingersoll Rand Inc. will post 1.73 earnings per share for the current fiscal year.

In related news, insider Gary E. Gillespie sold 54,975 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $52.88, for a total transaction of $2,907,078.00. Following the sale, the insider now directly owns 75,014 shares of the company’s stock, valued at $3,966,740.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sia Abbaszadeh sold 45,000 shares of the stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $50.89, for a total value of $2,290,050.00. Following the sale, the insider now directly owns 64,957 shares in the company, valued at $3,305,661.73. The disclosure for this sale can be found here. Insiders have sold 129,975 shares of company stock worth $6,847,128 over the last ninety days. 0.69% of the stock is currently owned by insiders.

Ingersoll Rand Profile

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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

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