Raymond James Financial Services Advisors Inc. Acquires 934 Shares of Ingersoll Rand Inc. (NYSE:IR)

Raymond James Financial Services Advisors Inc. raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,040 shares of the industrial products company’s stock after purchasing an additional 934 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ingersoll Rand were worth $1,779,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Sentry Investment Management LLC grew its stake in Ingersoll Rand by 8.0% in the fourth quarter. Sentry Investment Management LLC now owns 2,671 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 197 shares in the last quarter. Raymond James & Associates raised its position in shares of Ingersoll Rand by 5.7% in the 4th quarter. Raymond James & Associates now owns 198,100 shares of the industrial products company’s stock worth $10,351,000 after acquiring an additional 10,626 shares in the last quarter. FORA Capital LLC lifted its stake in shares of Ingersoll Rand by 390.2% during the 4th quarter. FORA Capital LLC now owns 25,277 shares of the industrial products company’s stock worth $1,321,000 after purchasing an additional 20,121 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Ingersoll Rand during the fourth quarter valued at about $54,000. Finally, UBS Group AG grew its stake in Ingersoll Rand by 58.8% in the fourth quarter. UBS Group AG now owns 916,621 shares of the industrial products company’s stock valued at $47,893,000 after purchasing an additional 339,283 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Up 1.2 %

Shares of IR opened at $57.58 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.50 and a debt-to-equity ratio of 0.29. The firm has a market cap of $23.29 billion, a P/E ratio of 35.54 and a beta of 1.42. The stock’s 50 day moving average is $56.63 and its two-hundred day moving average is $55.66. Ingersoll Rand Inc. has a 12 month low of $39.28 and a 12 month high of $61.06.

Ingersoll Rand (NYSE:IR – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts predict that Ingersoll Rand Inc. will post 2.52 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Wednesday, May 24th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date is Tuesday, May 23rd. Ingersoll Rand’s payout ratio is 4.94%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 25,000 shares of Ingersoll Rand stock in a transaction on Monday, March 6th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the sale, the insider now owns 102,856 shares of the company’s stock, valued at approximately $6,171,360. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ingersoll Rand from $55.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. Barclays lifted their price target on shares of Ingersoll Rand from $64.00 to $65.00 in a report on Friday, May 5th. Stifel Nicolaus raised their price objective on Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 17th. Morgan Stanley upped their target price on Ingersoll Rand from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Finally, Evercore ISI upgraded Ingersoll Rand from an “in-line” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.36.

About Ingersoll Rand

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.