Patton Fund Management Inc. Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Patton Fund Management Inc. lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,008 shares of the industrial products company’s stock after selling 2,277 shares during the period. Patton Fund Management Inc.’s holdings in Ingersoll Rand were worth $4,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IR. American International Group Inc. raised its stake in shares of Ingersoll Rand by 2.7% in the 4th quarter. American International Group Inc. now owns 109,877 shares of the industrial products company’s stock valued at $8,498,000 after acquiring an additional 2,867 shares during the period. Scarborough Advisors LLC purchased a new stake in Ingersoll Rand during the 4th quarter worth $32,000. HighPoint Advisor Group LLC purchased a new stake in Ingersoll Rand during the 4th quarter worth $171,000. Kapitalo Investimentos Ltda purchased a new stake in Ingersoll Rand during the 4th quarter worth $28,000. Finally, GAMMA Investing LLC increased its stake in Ingersoll Rand by 12.2% during the 1st quarter. GAMMA Investing LLC now owns 4,202 shares of the industrial products company’s stock worth $399,000 after buying an additional 457 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Up 1.0 %

Shares of Ingersoll Rand stock traded up $1.03 during trading on Thursday, hitting $101.42. The stock had a trading volume of 250,684 shares, compared to its average volume of 2,552,981. The stock has a 50 day simple moving average of $93.66 and a 200 day simple moving average of $93.09. The company has a market capitalization of $40.92 billion, a PE ratio of 49.95, a P/E/G ratio of 2.72 and a beta of 1.42. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $102.74.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 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 firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, research analysts expect that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the business’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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of 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. Barclays raised their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average target price of $102.17.

About Ingersoll Rand

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.