Wedbush Securities Inc. Buys Shares of 6,583 Ingersoll Rand Inc. (NYSE:IR)

Wedbush Securities Inc. purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,583 shares of the industrial products company’s stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also modified their holdings of IR. Vanguard Group Inc. grew its holdings in shares of Ingersoll Rand by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 45,384,257 shares of the industrial products company’s stock valued at $3,510,018,000 after purchasing an additional 176,734 shares during the last quarter. Capital International Investors grew its stake in shares of Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ingersoll Rand by 28.4% during the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after buying an additional 3,535,543 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Ingersoll Rand by 15.3% in the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Ingersoll Rand by 8.0% during the 4th quarter. Putnam Investments LLC now owns 9,443,792 shares of the industrial products company’s stock valued at $730,383,000 after acquiring an additional 696,610 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley assumed coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Cfra reissued a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. Finally, Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $89.86 on Friday. The business has a 50-day moving average price of $92.43 and a two-hundred day moving average price of $92.12. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $101.30. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company has a market cap of $36.25 billion, a P/E ratio of 44.71, a PEG ratio of 2.45 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Insiders Place Their Bets

In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 approximately $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction 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 owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by company insiders.

Ingersoll Rand Company Profile

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.