Los Angeles Capital Management LLC Purchases 277,624 Shares of Ingersoll Rand Inc. (NYSE:IR)

Los Angeles Capital Management LLC increased its position in Ingersoll Rand Inc. (NYSE:IR) by 160.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 450,658 shares of the industrial products company’s stock after buying an additional 277,624 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ingersoll Rand were worth $22,177,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd lifted its position in Ingersoll Rand by 4.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,235 shares of the industrial products company’s stock worth $238,000 after buying an additional 233 shares during the last quarter. Whittier Trust Co. increased its stake in Ingersoll Rand by 7.5% in the 1st quarter. Whittier Trust Co. now owns 3,462 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 242 shares during the period. Jackson Grant Investment Advisers Inc. increased its stake in Ingersoll Rand by 20.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 1,650 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 281 shares during the period. Crossmark Global Holdings Inc. increased its stake in Ingersoll Rand by 2.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 15,391 shares of the industrial products company’s stock worth $701,000 after purchasing an additional 329 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Ingersoll Rand by 0.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 133,227 shares of the industrial products company’s stock worth $6,070,000 after purchasing an additional 460 shares during the period. Institutional investors own 95.91% of the company’s stock.

A number of equities analysts have commented on IR shares. Evercore ISI lifted their price target on Ingersoll Rand from $48.00 to $53.00 in a research note on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Ingersoll Rand from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, February 24th. Barclays boosted their target price on Ingersoll Rand from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 6th. TheStreet raised Ingersoll Rand from a “c+” rating to a “b-” rating in a research note on Wednesday, April 28th. Finally, Credit Suisse Group boosted their target price on Ingersoll Rand from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ingersoll Rand has an average rating of “Buy” and a consensus price target of $51.25.

NYSE IR opened at $48.76 on Tuesday. The company has a quick ratio of 1.72, a current ratio of 2.43 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $49.94 and its 200 day moving average is $46.24. Ingersoll Rand Inc. has a twelve month low of $26.72 and a twelve month high of $52.12. The firm has a market capitalization of $20.45 billion, a PE ratio of -131.78 and a beta of 1.53.

Ingersoll Rand (NYSE:IR) last released its 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 negative return on equity of 2.27% and a negative net margin of 3.97%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 94.7% compared to the same quarter last year. On average, research analysts anticipate that Ingersoll Rand Inc. will post -0.27 earnings per share for the current year.

In other Ingersoll Rand news, major shareholder Renaissance Aggregator L.P Kkr sold 14,924,081 shares of the business’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $48.57, for a total value of $724,862,614.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vicente Reynal sold 30,000 shares of the business’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $50.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now directly owns 68,832 shares in the company, valued at $3,441,600. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.

Further Reading: The four types of profit margin

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

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