Allworth Financial LP Has $334,000 Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Allworth Financial LP grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 3,404 shares of the industrial products company’s stock after acquiring an additional 220 shares during the period. Allworth Financial LP’s holdings in Ingersoll Rand were worth $334,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Ingersoll Rand by 4.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,630 shares of the industrial products company’s stock worth $1,389,000 after purchasing an additional 564 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new position in Ingersoll Rand during the first quarter worth about $1,221,000. Massachusetts Wealth Management boosted its holdings in Ingersoll Rand by 2.2% during the first quarter. Massachusetts Wealth Management now owns 28,118 shares of the industrial products company’s stock worth $2,670,000 after purchasing an additional 600 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Ingersoll Rand by 27.6% during the first quarter. First Trust Direct Indexing L.P. now owns 6,691 shares of the industrial products company’s stock worth $635,000 after purchasing an additional 1,448 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Ingersoll Rand by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 31,761 shares of the industrial products company’s stock worth $2,823,000 after purchasing an additional 859 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

IR stock opened at $97.26 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. Ingersoll Rand Inc. has a one year low of $59.51 and a one year high of $102.74. The stock has a market cap of $39.24 billion, a PE ratio of 48.39, a P/E/G ratio of 2.69 and a beta of 1.42. The firm has a 50 day simple moving average of $95.04 and a two-hundred day simple moving average of $93.39.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping 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 analysts’ expectations of $1.78 billion. On average, analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.98%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus boosted their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays boosted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley began 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. Finally, Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Activity

In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock valued at $7,108,005. Corporate insiders own 0.68% of the company’s stock.

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.