Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Argent Trust Co

Argent Trust Co lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,888 shares of the industrial products company’s stock after acquiring an additional 195 shares during the quarter. Argent Trust Co’s holdings in Ingersoll Rand were worth $444,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IR. Coldstream Capital Management Inc. increased its position in Ingersoll Rand by 25.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 6,741 shares of the industrial products company’s stock worth $521,000 after purchasing an additional 1,363 shares during the period. D.A. Davidson & CO. acquired a new position in Ingersoll Rand during the fourth quarter worth $301,000. CreativeOne Wealth LLC raised its position in Ingersoll Rand by 21.8% in the fourth quarter. CreativeOne Wealth LLC now owns 5,888 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,055 shares in the last quarter. Allstate Corp acquired a new stake in Ingersoll Rand in the fourth quarter valued at $209,000. Finally, Avantax Planning Partners Inc. purchased a new stake in shares of Ingersoll Rand during the 4th quarter worth $204,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Trading Up 4.2 %

Ingersoll Rand stock opened at $97.65 on Friday. The stock has a market cap of $39.40 billion, a PE ratio of 48.58, a P/E/G ratio of 2.53 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $92.47 and a 200 day moving average price of $92.21. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.30.

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

Ingersoll Rand Announces Dividend

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

Insider Activity

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 3,829 shares in the company, valued at approximately $344,571.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last quarter. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Cfra reissued a “hold” rating and set a $85.00 price target on shares of Ingersoll Rand in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Five investment 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, Ingersoll Rand presently has an average rating of “Moderate Buy” and an average target price of $100.00.

Ingersoll Rand 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.