EverSource Wealth Advisors LLC Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

EverSource Wealth Advisors LLC lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 194.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,336 shares of the industrial products company’s stock after purchasing an additional 883 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ingersoll Rand were worth $134,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Greenline Partners LLC acquired a new position in Ingersoll Rand during the second quarter worth $398,000. Frank Rimerman Advisors LLC raised its position in shares of Ingersoll Rand by 227,288.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 20,465 shares of the industrial products company’s stock worth $1,859,000 after purchasing an additional 20,456 shares during the last quarter. ProShare Advisors LLC lifted its stake in Ingersoll Rand by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 71,213 shares of the industrial products company’s stock valued at $6,469,000 after buying an additional 3,014 shares in the last quarter. Symmetry Investments LP boosted its holdings in Ingersoll Rand by 32.2% in the 2nd quarter. Symmetry Investments LP now owns 93,689 shares of the industrial products company’s stock worth $8,511,000 after buying an additional 22,823 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Ingersoll Rand by 20.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after acquiring an additional 250,712 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on IR shares. Evercore ISI reduced their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company dropped their price objective on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Cfra restated a “hold” rating and issued a $85.00 price target on shares of Ingersoll Rand in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Ingersoll Rand Price Performance

IR stock opened at $96.41 on Friday. Ingersoll Rand Inc. has a 52-week low of $59.20 and a 52-week high of $101.30. The business has a fifty day moving average of $92.33 and a two-hundred day moving average of $92.39. The stock has a market cap of $38.89 billion, a price-to-earnings ratio of 47.97, a price-to-earnings-growth ratio of 2.75 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 (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

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. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.98%.

Insider Activity at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Vicente Reynal sold 50,000 shares of the company’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 transaction of $4,625,500.00. Following 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 legal filing with the SEC, which is available through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Ingersoll Rand 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.