Ingersoll Rand Inc. (NYSE:IR) Shares Bought by abrdn plc

abrdn plc raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 70.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,575 shares of the industrial products company’s stock after acquiring an additional 69,941 shares during the quarter. abrdn plc’s holdings in Ingersoll Rand were worth $13,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its position in Ingersoll Rand by 11.9% during the third quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 191 shares during the period. DAVENPORT & Co LLC boosted its holdings in Ingersoll Rand by 4.5% during the third quarter. DAVENPORT & Co LLC now owns 15,214 shares of the industrial products company’s stock worth $969,000 after buying an additional 658 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter valued at approximately $308,000. Caprock Group LLC grew its position in shares of Ingersoll Rand by 16.5% in the 3rd quarter. Caprock Group LLC now owns 8,068 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 1,140 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in Ingersoll Rand by 39.3% in the 3rd quarter. WASHINGTON TRUST Co now owns 921 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 260 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IR. BNP Paribas initiated coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective on the stock. Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. UBS Group increased their target price on Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Cfra raised their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their target price for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the completion of the transaction, the insider now directly owns 16,525 shares in the company, valued at $1,478,326.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. Insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Down 0.5 %

Shares of NYSE:IR opened at $92.03 on Friday. Ingersoll Rand Inc. has a 52-week low of $53.24 and a 52-week high of $96.17. The firm has a market capitalization of $37.13 billion, a P/E ratio of 48.44, a P/E/G ratio of 3.16 and a beta of 1.44. The stock has a 50 day moving average price of $91.62 and a 200-day moving average price of $79.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 4.21%.

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.