Raymond James & Associates Has $34.73 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Raymond James & Associates increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 51.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 353,809 shares of the industrial products company’s stock after acquiring an additional 119,656 shares during the period. Raymond James & Associates owned 0.09% of Ingersoll Rand worth $34,730,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Capital International Investors increased its holdings in shares of Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after acquiring an additional 13,919,775 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after acquiring an additional 3,535,543 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after acquiring an additional 1,504,414 shares during the last quarter. Capital World Investors bought a new stake in Ingersoll Rand during the 1st quarter valued at approximately $440,401,000. Finally, Dimensional Fund Advisors LP boosted its stake in Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after purchasing an additional 224,463 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of several recent analyst reports. Barclays increased their target price on 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 initiated coverage on 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. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Robert W. Baird increased their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Buying and Selling

In related news, insider Vicente Reynal sold 50,000 shares of the firm’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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 in the last 90 days. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $96.39 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The company has a market capitalization of $38.89 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $102.74. The business has a 50 day simple moving average of $94.60 and a 200 day simple moving average of $93.29.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, sell-side analysts forecast that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

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.