Ingersoll Rand Inc. (NYSE:IR) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 317,063 shares of the industrial products company’s stock after acquiring an additional 32,961 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ingersoll Rand were worth $31,123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ingersoll Rand by 24.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after buying an additional 96,982 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in shares of Ingersoll Rand in the first quarter worth approximately $1,221,000. Swedbank AB boosted its holdings in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after purchasing an additional 198,200 shares during the period. Inspire Investing LLC purchased a new position in Ingersoll Rand during the first quarter valued at approximately $889,000. Finally, Empowered Funds LLC increased its stake in Ingersoll Rand by 1,077.0% in the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock valued at $4,698,000 after buying an additional 45,279 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the company’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 value of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last ninety days. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Down 2.1 %

Shares of IR stock opened at $96.39 on Thursday. The company has a current ratio of 2.18, a quick ratio of 1.52 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. The firm’s fifty day simple moving average is $94.60 and its 200 day simple moving average is $93.29. The firm has a market capitalization of $38.89 billion, a P/E ratio of 47.96, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42.

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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders 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 dividend yield of 0.08%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Robert W. Baird lifted their price objective on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Cfra raised their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.17.

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.