RMB Capital Management LLC Sells 4,740 Shares of Ingersoll Rand Inc. (NYSE:IR)

RMB Capital Management LLC lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,076 shares of the industrial products company’s stock after selling 4,740 shares during the period. RMB Capital Management LLC’s holdings in Ingersoll Rand were worth $1,775,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Eudaimonia Partners LLC bought a new position in shares of Ingersoll Rand during the 4th quarter valued at about $27,000. Freedman Financial Associates Inc. bought a new stake in Ingersoll Rand in the 4th quarter valued at approximately $32,000. Allred Capital Management LLC bought a new stake in Ingersoll Rand in the 1st quarter valued at approximately $35,000. Capital Asset Advisory Services LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at approximately $34,000. Finally, tru Independence LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

IR stock opened at $47.36 on Friday. 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 firm has a market cap of $19.87 billion, a price-to-earnings ratio of -225.52 and a beta of 1.52. Ingersoll Rand Inc. has a 1-year low of $26.72 and a 1-year high of $52.12. The business’s 50 day simple moving average is $49.52.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, April 28th. The industrial products company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.54. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.30 billion. Ingersoll Rand had a positive return on equity of 1.29% and a negative net margin of 1.59%. The firm’s revenue was up 94.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. As a group, research analysts predict that Ingersoll Rand Inc. will post 0.1 EPS for the current fiscal year.

In related news, major shareholder Renaissance Aggregator L.P Kkr sold 14,924,081 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by insiders.

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Ingersoll Rand from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, May 19th. Telsey Advisory Group boosted their target price on Ingersoll Rand from $100.00 to $110.00 in a research note on Friday, May 21st. 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. Credit Suisse Group upped their price objective on Ingersoll Rand from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 2nd. Finally, TheStreet upgraded Ingersoll Rand from a “c+” rating to a “b-” rating in a research note on Wednesday, April 28th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $56.23.

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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