Resonant Capital Advisors LLC Cuts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Resonant Capital Advisors LLC lowered its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 22.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,098 shares of the industrial products company’s stock after selling 914 shares during the period. Resonant Capital Advisors LLC’s holdings in Ingersoll Rand were worth $240,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IR. Norges Bank purchased a new position in Ingersoll Rand during the fourth quarter worth approximately $187,291,000. Morgan Stanley raised its stake in Ingersoll Rand by 65.4% during the fourth quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock worth $245,671,000 after purchasing an additional 1,858,698 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Ingersoll Rand by 101.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,700,061 shares of the industrial products company’s stock worth $108,328,000 after purchasing an additional 854,314 shares during the period. Vanguard Group Inc. raised its stake in Ingersoll Rand by 1.9% during the first quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock worth $2,218,134,000 after purchasing an additional 823,749 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Ingersoll Rand by 97.7% in the 1st quarter. Prudential Financial Inc. now owns 1,270,695 shares of the industrial products company’s stock valued at $63,980,000 after acquiring an additional 628,086 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vicente Reynal sold 240,000 shares of Ingersoll Rand stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders sold a total of 293,011 shares of company stock valued at $26,374,789 in the last ninety days. Corporate insiders own 0.83% of the company’s stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $88.40 on Friday. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 46.53, a price-to-earnings-growth ratio of 3.08 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. Ingersoll Rand Inc. has a 12-month low of $53.24 and a 12-month high of $96.17. The firm’s fifty day moving average price is $91.25 and its 200 day moving average price is $78.79.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, research analysts forecast that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IR shares. Barclays raised their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their target price for the company from $81.00 to $89.00 in a research note on Tuesday, February 20th. BNP Paribas started coverage on shares of Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price on the stock. Finally, Citigroup raised their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Company 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.