Atria Wealth Solutions Inc. Purchases 2,756 Shares of Ingersoll Rand Inc. (NYSE:IR)

Atria Wealth Solutions Inc. raised its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,559 shares of the industrial products company’s stock after acquiring an additional 2,756 shares during the period. Atria Wealth Solutions Inc.’s holdings in Ingersoll Rand were worth $662,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IR. OFI Invest Asset Management acquired a new position in Ingersoll Rand during the third quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand during the fourth quarter valued at approximately $27,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Ingersoll Rand during the third quarter worth $28,000. Clearstead Advisors LLC increased its holdings in shares of Ingersoll Rand by 348.2% during the third quarter. Clearstead Advisors LLC now owns 493 shares of the industrial products company’s stock worth $31,000 after buying an additional 383 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Ingersoll Rand during the third quarter worth $32,000. Institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group upped their price target 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. Evercore ISI downgraded shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $81.00 to $89.00 in a report on Tuesday, February 20th. Barclays increased their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company increased their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Four research 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 a consensus target price of $92.73.

Ingersoll Rand Stock Performance

Shares of IR opened at $86.72 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $34.99 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 3.23 and a beta of 1.40. The firm’s fifty day simple moving average is $91.96 and its two-hundred day simple moving average is $80.58. Ingersoll Rand Inc. has a 12 month low of $56.49 and a 12 month high of $96.17.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.66%. As a group, analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Announces Dividend

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 given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Ingersoll Rand declared that its board has initiated a share repurchase plan on Thursday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Ingersoll Rand

In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $21,638,400.00. Following the transaction, the insider now owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 in the last 90 days. 0.83% of the stock is currently owned by corporate insiders.

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.