Raymond James Financial Services Advisors Inc. boosted its holdings in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 32.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,106 shares of the industrial products company’s stock after purchasing an additional 8,041 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingersoll Rand were worth $1,432,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of Ingersoll Rand in the 2nd quarter valued at about $31,000. CoreCap Advisors LLC bought a new stake in Ingersoll Rand in the 2nd quarter worth $33,000. Clear Street Markets LLC increased its position in shares of Ingersoll Rand by 406.0% in the second quarter. Clear Street Markets LLC now owns 850 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 682 shares during the period. Desjardins Global Asset Management Inc. bought a new position in shares of Ingersoll Rand during the second quarter valued at about $41,000. Finally, Quent Capital LLC boosted its holdings in shares of Ingersoll Rand by 40.7% during the second quarter. Quent Capital LLC now owns 1,100 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 318 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.
In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,000 shares of Ingersoll Rand stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $52.00, for a total value of $520,000.00. Following the completion of the transaction, the insider now directly owns 70,928 shares of the company’s stock, valued at $3,688,256. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,000 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $52.00, for a total transaction of $520,000.00. Following the sale, the insider now directly owns 70,928 shares in the company, valued at approximately $3,688,256. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Scheske sold 1,742 shares of Ingersoll Rand stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $57.00, for a total value of $99,294.00. Following the completion of the sale, the chief accounting officer now directly owns 7,112 shares of the company’s stock, valued at approximately $405,384. The disclosure for this sale can be found here. Insiders sold 24,378 shares of company stock worth $1,289,969 over the last three months. 0.75% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Ingersoll Rand Trading Down 3.6 %
Shares of NYSE IR opened at $53.88 on Friday. The stock has a market cap of $21.82 billion, a P/E ratio of 32.46 and a beta of 1.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 1.79. Ingersoll Rand Inc. has a 1 year low of $39.28 and a 1 year high of $59.38. The firm has a 50-day moving average of $53.93 and a 200 day moving average of $49.72.
Ingersoll Rand (NYSE:IR – Get Rating) last released its earnings results on Wednesday, November 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.45 billion. Ingersoll Rand had a net margin of 11.91% and a return on equity of 9.81%. As a group, sell-side analysts expect that Ingersoll Rand Inc. will post 2.12 EPS for the current fiscal year.
Ingersoll Rand Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Wednesday, November 16th were paid a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Ingersoll Rand’s dividend payout ratio is currently 4.82%.
About Ingersoll Rand
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.
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