abrdn plc Grows Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

abrdn plc grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 70.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,575 shares of the industrial products company’s stock after buying an additional 69,941 shares during the quarter. abrdn plc’s holdings in Ingersoll Rand were worth $13,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IR. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 valued at $108,328,000 after purchasing an additional 854,314 shares during the last quarter. FMR LLC raised its position in shares of Ingersoll Rand by 3.4% during the 3rd quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after buying an additional 627,146 shares in the last quarter. Barclays PLC raised its position in shares of Ingersoll Rand by 59.8% during the 3rd quarter. Barclays PLC now owns 876,284 shares of the industrial products company’s stock valued at $55,836,000 after buying an additional 327,931 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Ingersoll Rand by 7,475.8% during the 4th quarter. International Assets Investment Management LLC now owns 281,518 shares of the industrial products company’s stock valued at $21,773,000 after buying an additional 277,802 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Ingersoll Rand by 45.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 796,696 shares of the industrial products company’s stock worth $50,765,000 after acquiring an additional 248,634 shares in the last quarter. 95.27% of the stock is owned by institutional investors.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 7,590 shares of the company’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 value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Michael J. Scheske sold 7,590 shares of the company’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 sale, 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 legal filing with the SEC, which is available through this link. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the sale, the insider now directly owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on IR. The Goldman Sachs Group increased their price objective 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $102.00 price target on shares of Ingersoll Rand in a report on Tuesday, March 26th. Evercore ISI cut shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and raised their price target for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. UBS Group boosted their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, BNP Paribas began coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Ingersoll Rand Stock Performance

NYSE:IR opened at $92.03 on Friday. 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 firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 48.44, a PEG ratio of 3.16 and a beta of 1.44. The company’s 50-day moving average is $91.62 and its two-hundred day moving average is $79.45. Ingersoll Rand Inc. has a 1-year low of $53.24 and a 1-year high of $96.17.

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

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

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.