Sound Income Strategies LLC Purchases 3,707 Shares of Ingersoll Rand Inc. (NYSE:IR)

Sound Income Strategies LLC lifted its position in Ingersoll Rand Inc. (NYSE:IRFree Report) by 19,510.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,726 shares of the industrial products company’s stock after buying an additional 3,707 shares during the quarter. Sound Income Strategies LLC’s holdings in Ingersoll Rand were worth $288,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in IR. Nordea Investment Management AB boosted its position in Ingersoll Rand by 3.0% during the fourth quarter. Nordea Investment Management AB now owns 1,171,335 shares of the industrial products company’s stock worth $90,872,000 after purchasing an additional 33,963 shares during the period. Wedmont Private Capital boosted its position in shares of Ingersoll Rand by 6.0% in the fourth quarter. Wedmont Private Capital now owns 4,617 shares of the industrial products company’s stock valued at $350,000 after acquiring an additional 260 shares during the period. Fulton Bank N.A. boosted its position in shares of Ingersoll Rand by 6.3% in the fourth quarter. Fulton Bank N.A. now owns 3,944 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 235 shares during the period. DNB Asset Management AS boosted its position in shares of Ingersoll Rand by 5.4% in the fourth quarter. DNB Asset Management AS now owns 151,438 shares of the industrial products company’s stock valued at $11,712,000 after acquiring an additional 7,815 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Ingersoll Rand by 17.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,137 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 173 shares during the period. Institutional investors own 94.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IR. BNP Paribas began coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Cfra increased their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Wells Fargo & Company increased their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Citigroup increased their price objective on Ingersoll Rand from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.50.

View Our Latest Stock Analysis on IR

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the transaction, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now directly owns 16,525 shares in the company, valued at approximately $1,478,326.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,011 shares of company stock valued at $26,374,789. 0.83% of the stock is owned by insiders.

Ingersoll Rand Trading Down 0.6 %

NYSE IR opened at $90.47 on Monday. The firm has a market cap of $36.50 billion, a P/E ratio of 47.62, a P/E/G ratio of 3.25 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The stock’s 50-day moving average is $84.76 and its 200-day moving average is $74.21. Ingersoll Rand Inc. has a one year low of $51.84 and a one year high of $92.44.

Ingersoll Rand (NYSE:IRGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. Sell-side analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 7th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is presently 4.21%.

Ingersoll Rand Profile

(Free Report)

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.

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

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