Atria Wealth Solutions Inc. Decreases Position in Ingersoll Rand Inc. (NYSE:IR)

Atria Wealth Solutions Inc. decreased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 37.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,892 shares of the industrial products company’s stock after selling 4,067 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Ingersoll Rand were worth $552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in Ingersoll Rand by 15.3% during the 4th quarter. Advisory Services Network LLC now owns 6,608 shares of the industrial products company’s stock valued at $598,000 after acquiring an additional 878 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Ingersoll Rand by 6.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 22,682 shares of the industrial products company’s stock worth $2,053,000 after acquiring an additional 1,280 shares during the last quarter. Townsquare Capital LLC purchased a new position in Ingersoll Rand in the 4th quarter worth $244,000. Sagespring Wealth Partners LLC purchased a new position in Ingersoll Rand in the 4th quarter worth $259,000. Finally, SageView Advisory Group LLC purchased a new position in shares of Ingersoll Rand during the 4th quarter valued at about $346,000. Institutional investors own 95.27% of the company’s stock.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley dropped their target price on Ingersoll Rand from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research note on Monday, July 14th. Melius Research set a $93.00 price target on shares of Ingersoll Rand in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on Ingersoll Rand from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Citigroup restated a “buy” rating and issued a $104.00 price target (up previously from $91.00) on shares of Ingersoll Rand in a research note on Monday, July 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of “Hold” and an average price target of $97.75.

Ingersoll Rand Stock Up 2.9%

Shares of NYSE IR opened at $80.72 on Thursday. Ingersoll Rand Inc. has a 52-week low of $65.61 and a 52-week high of $106.03. The stock has a market cap of $32.08 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 4.46 and a beta of 1.41. The business has a 50-day moving average price of $83.53 and a 200 day moving average price of $82.05. The company has a quick ratio of 1.63, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current year.

Ingersoll Rand announced that its Board of Directors has initiated a share buyback program on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is 6.25%.

Ingersoll Rand 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.