Wealthspire Advisors LLC Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Wealthspire Advisors LLC raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,268 shares of the industrial products company’s stock after buying an additional 119 shares during the period. Wealthspire Advisors LLC’s holdings in Ingersoll Rand were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IR. Capital International Investors boosted its holdings 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 purchasing an additional 13,919,775 shares during the period. Capital World Investors bought a new position in Ingersoll Rand in the first quarter worth about $440,401,000. Norges Bank bought a new position in Ingersoll Rand in the fourth quarter worth about $301,890,000. JPMorgan Chase & Co. raised its stake in Ingersoll Rand by 28.4% in 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. Finally, Capital Research Global Investors raised its stake in Ingersoll Rand by 46.6% in the fourth quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after buying an additional 3,119,793 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IR. Robert W. Baird increased their price target 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. Stifel Nicolaus increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Barclays decreased their target price on shares of Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. 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 note on Monday, August 19th. Finally, Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Five 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, the company currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,543,473.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is owned by insiders.

Ingersoll Rand Price Performance

Shares of IR opened at $93.97 on Wednesday. The company has a market capitalization of $37.91 billion, a P/E ratio of 46.75, a price-to-earnings-growth ratio of 2.53 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. The firm has a 50 day moving average of $92.44 and a 200 day moving average of $92.16. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30.

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

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.02 dividend. 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 currently 3.98%.

About Ingersoll Rand

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.