Commonwealth Equity Services LLC Boosts Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Commonwealth Equity Services LLC boosted its holdings in Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,086 shares of the industrial products company’s stock after buying an additional 2,613 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Ingersoll Rand were worth $1,415,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Putnam Investments LLC grew its holdings in shares of Ingersoll Rand by 207.6% during the third quarter. Putnam Investments LLC now owns 9,004,468 shares of the industrial products company’s stock worth $389,533,000 after purchasing an additional 6,077,376 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Ingersoll Rand by 7,055.2% during the third quarter. Fisher Asset Management LLC now owns 4,486,250 shares of the industrial products company’s stock worth $194,075,000 after buying an additional 4,423,551 shares during the period. BlackRock Inc. boosted its stake in shares of Ingersoll Rand by 4.1% during the third quarter. BlackRock Inc. now owns 32,413,371 shares of the industrial products company’s stock worth $1,402,201,000 after buying an additional 1,286,810 shares during the period. CCLA Investment Management acquired a new stake in shares of Ingersoll Rand during the third quarter worth about $55,658,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 823,749 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Ingersoll Rand from $64.00 to $65.00 in a research note on Friday, May 5th. Wells Fargo & Company reduced their price objective on shares of Ingersoll Rand from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, April 13th. StockNews.com upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a research report on Saturday, May 13th. Evercore ISI upgraded shares of Ingersoll Rand from an “in-line” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Tuesday, May 9th. Finally, Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $60.00 to $61.00 and gave the company a “hold” rating in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.36.

Ingersoll Rand Trading Down 0.3 %

Shares of IR opened at $59.76 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.16 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $56.33 and a 200-day simple moving average of $55.46. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $61.06. The stock has a market cap of $24.17 billion, a price-to-earnings ratio of 36.89 and a beta of 1.42.

Ingersoll Rand (NYSE:IR – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.66% and a return on equity of 10.69%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company posted $0.64 EPS. The company’s revenue was up 14.4% on a year-over-year basis. Equities analysts forecast that Ingersoll Rand Inc. will post 2.52 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Wednesday, May 24th will be paid a $0.02 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.08 annualized dividend and a yield of 0.13%. Ingersoll Rand’s payout ratio is currently 4.94%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 25,000 shares of Ingersoll Rand stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $60.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now directly owns 102,856 shares of the company’s stock, valued at approximately $6,171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Ingersoll Rand Company Profile

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Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.