Raymond James Financial Services Advisors Inc. Purchases 8,041 Shares of Ingersoll Rand Inc. (NYSE:IR)

Raymond James Financial Services Advisors Inc. grew its position in shares of Ingersoll Rand Inc. (NYSE:IRGet Rating) by 32.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,106 shares of the industrial products company’s stock after acquiring an additional 8,041 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingersoll Rand were worth $1,432,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IR. American Century Companies Inc. raised its holdings in shares of Ingersoll Rand by 12.0% during the first quarter. American Century Companies Inc. now owns 15,601 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 1,675 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Ingersoll Rand by 47.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,880 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 3,185 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Ingersoll Rand in the 1st quarter worth about $327,000. Panagora Asset Management Inc. boosted its stake in shares of Ingersoll Rand by 62.2% during the 1st quarter. Panagora Asset Management Inc. now owns 28,937 shares of the industrial products company’s stock valued at $1,457,000 after purchasing an additional 11,096 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Ingersoll Rand by 1.7% during the first quarter. Yousif Capital Management LLC now owns 57,771 shares of the industrial products company’s stock valued at $2,909,000 after buying an additional 988 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,742 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 7,112 shares of the company’s stock, valued at approximately $405,384. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Michael J. Scheske sold 1,743 shares of Ingersoll Rand stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.43, for a total value of $93,128.49. Following the completion of the sale, the chief accounting officer now owns 7,110 shares of the company’s stock, valued at $379,887.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 1,742 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $57.00, for a total value of $99,294.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,112 shares in the company, valued at approximately $405,384. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,378 shares of company stock valued at $1,289,969. Corporate insiders own 0.75% of the company’s stock.

Ingersoll Rand Price Performance

IR opened at $53.88 on Friday. The firm has a market cap of $21.82 billion, a PE ratio of 32.46 and a beta of 1.43. The stock has a 50-day moving average price of $53.93 and a 200-day moving average price of $49.72. Ingersoll Rand Inc. has a 1 year low of $39.28 and a 1 year high of $59.38. 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 (NYSE:IRGet Rating) last issued its earnings results on Wednesday, November 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. Ingersoll Rand had a net margin of 11.91% and a return on equity of 9.81%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Sell-side analysts predict that Ingersoll Rand Inc. will post 2.12 earnings per share for the current fiscal year.

Ingersoll Rand Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Wednesday, November 16th were paid a dividend of $0.02 per share. The ex-dividend date was Tuesday, November 15th. This represents a $0.08 annualized dividend and a yield of 0.15%. Ingersoll Rand’s dividend payout ratio is 4.82%.

Wall Street Analysts Forecast Growth

IR has been the topic of several research reports. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays lifted their price target on Ingersoll Rand from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. TheStreet upgraded Ingersoll Rand from a “c” rating to a “b” rating in a report on Friday, November 25th. StockNews.com began coverage on shares of Ingersoll Rand in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Credit Suisse Group increased their price target on shares of Ingersoll Rand from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

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.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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