Greenleaf Trust Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Greenleaf Trust grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,803 shares of the industrial products company’s stock after purchasing an additional 261 shares during the quarter. Greenleaf Trust’s holdings in Ingersoll Rand were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IR. CWM LLC raised its stake in shares of Ingersoll Rand by 5.1% in the 3rd quarter. CWM LLC now owns 10,188 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 498 shares during the period. Global Retirement Partners LLC increased its stake in Ingersoll Rand by 11.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,800 shares of the industrial products company’s stock worth $114,000 after buying an additional 191 shares during the period. HB Wealth Management LLC purchased a new stake in Ingersoll Rand during the 3rd quarter worth $219,000. DAVENPORT & Co LLC increased its stake in Ingersoll Rand by 4.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 15,214 shares of the industrial products company’s stock worth $969,000 after buying an additional 658 shares during the period. Finally, CreativeOne Wealth LLC purchased a new stake in Ingersoll Rand during the 3rd quarter worth $308,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at $854,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders have sold a total of 293,011 shares of company stock valued at $26,374,789 over the last ninety days. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IR shares. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup lifted their price target on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Cfra raised their price objective on shares of Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Finally, UBS Group raised their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $90.56 on Wednesday. The firm’s 50 day simple moving average is $91.42 and its 200-day simple moving average is $79.27. The company has a market cap of $36.54 billion, a P/E ratio of 47.66, 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 fifty-two week low of $53.24 and a fifty-two week high of $96.17.

Ingersoll Rand (NYSE:IR) last released its earnings results 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 business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. As a group, equities research analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 4.21%.

About Ingersoll Rand

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.