Corient Private Wealth LLC Has $19.67 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Corient Private Wealth LLC boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,265 shares of the industrial products company’s stock after acquiring an additional 523 shares during the quarter. Corient Private Wealth LLC owned 0.06% of Ingersoll Rand worth $19,665,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Ingersoll Rand in the 4th quarter worth approximately $301,890,000. UBS Group AG raised its stake in shares of Ingersoll Rand by 105.3% in the 4th quarter. UBS Group AG now owns 2,077,028 shares of the industrial products company’s stock valued at $160,637,000 after acquiring an additional 1,065,413 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in 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 worth $108,328,000 after purchasing an additional 854,314 shares during the period. FMR LLC grew its holdings in Ingersoll Rand by 3.4% during the third quarter. FMR LLC now owns 19,190,038 shares of the industrial products company’s stock valued at $1,222,789,000 after purchasing an additional 627,146 shares during the last quarter. Finally, Barclays PLC grew its stake in Ingersoll Rand by 59.8% in 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 during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total value of $21,638,400.00. Following the completion of the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at $8,290,843.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was 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 sold 297,369 shares of company stock valued at $26,831,251 in the last quarter. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IR. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. BNP Paribas began coverage on shares of Ingersoll Rand in a research report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 target price on the stock. Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays decreased their price objective on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, The Goldman Sachs Group increased their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.82.

Ingersoll Rand Price Performance

Shares of IR stock opened at $95.10 on Friday. Ingersoll Rand Inc. has a 52 week low of $56.49 and a 52 week high of $96.67. The stock’s fifty day moving average is $92.40 and its 200-day moving average is $83.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.71 and a current ratio of 2.32. The stock has a market capitalization of $38.37 billion, a PE ratio of 47.31, a PEG ratio of 3.15 and a beta of 1.40.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Equities research analysts expect that Ingersoll Rand Inc. will post 3.14 EPS for the current fiscal year.

Ingersoll Rand declared that its board has initiated a share buyback program on Thursday, April 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

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.