Raymond James & Associates Has $34.73 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Raymond James & Associates grew its position in Ingersoll Rand Inc. (NYSE:IR) by 51.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 353,809 shares of the industrial products company’s stock after buying an additional 119,656 shares during the period. Raymond James & Associates’ holdings in Ingersoll Rand were worth $34,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Ingersoll Rand by 167.5% in the 3rd quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 1,709 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Ingersoll Rand by 16.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 9,740 shares of the industrial products company’s stock worth $956,000 after purchasing an additional 1,380 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Ingersoll Rand by 2.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,309 shares of the industrial products company’s stock worth $6,411,000 after purchasing an additional 1,283 shares during the last quarter. Drake & Associates LLC boosted its position in shares of Ingersoll Rand by 9.1% in the 3rd quarter. Drake & Associates LLC now owns 6,394 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 533 shares during the last quarter. Finally, Teamwork Financial Advisors LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter worth $2,854,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Cfra lifted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Finally, Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and an average price target of $102.17.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $96.39 on Thursday. The firm has a market cap of $38.89 billion, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. The stock’s 50-day moving average is $94.60 and its 200-day moving average is $93.29. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $102.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Equities analysts predict that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Activity at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. 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, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is owned by 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.