Raymond James Financial Services Advisors Inc. Grows Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Raymond James Financial Services Advisors Inc. raised its stake in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,040 shares of the industrial products company’s stock after purchasing an additional 934 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ingersoll Rand were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in IR. Sentry Investment Management LLC increased its stake in shares of Ingersoll Rand by 8.0% during the fourth quarter. Sentry Investment Management LLC now owns 2,671 shares of the industrial products company’s stock worth $140,000 after buying an additional 197 shares during the period. Raymond James & Associates increased its position in shares of Ingersoll Rand by 5.7% in the 4th quarter. Raymond James & Associates now owns 198,100 shares of the industrial products company’s stock valued at $10,351,000 after purchasing an additional 10,626 shares during the last quarter. FORA Capital LLC raised its holdings in shares of Ingersoll Rand by 390.2% in the 4th quarter. FORA Capital LLC now owns 25,277 shares of the industrial products company’s stock valued at $1,321,000 after purchasing an additional 20,121 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the 4th quarter worth $54,000. Finally, UBS Group AG grew its stake in shares of Ingersoll Rand by 58.8% during the fourth quarter. UBS Group AG now owns 916,621 shares of the industrial products company’s stock worth $47,893,000 after purchasing an additional 339,283 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $57.58 on Friday. The stock has a fifty day moving average price of $56.63 and a 200 day moving average price of $55.66. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $61.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.16 and a quick ratio of 1.50. The company has a market cap of $23.29 billion, a PE ratio of 35.54 and a beta of 1.42.

Ingersoll Rand (NYSE:IR – Get Rating) last released its earnings results on Tuesday, February 21st. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $0.64 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Ingersoll Rand Inc. will post 2.52 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Wednesday, May 24th will be given a $0.02 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Ingersoll Rand’s payout ratio is currently 4.94%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IR shares. Barclays raised their price target on Ingersoll Rand from $64.00 to $65.00 in a research note on Friday, May 5th. Deutsche Bank Aktiengesellschaft upped their price target on Ingersoll Rand from $55.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. Morgan Stanley raised their price objective on shares of Ingersoll Rand from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $60.00 to $61.00 and gave the company a “hold” rating in a report on Monday, April 17th. Finally, Citigroup lifted their price target on shares of Ingersoll Rand from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.36.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Vicente Reynal sold 25,000 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $60.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 102,856 shares of the company’s stock, valued at approximately $6,171,360. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is owned by corporate insiders.

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.