Main Street Research LLC Has $25.93 Million Holdings in Ingersoll Rand Inc. (NYSE:IR)

Main Street Research LLC increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 102.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 335,209 shares of the industrial products company’s stock after purchasing an additional 169,565 shares during the period. Ingersoll Rand makes up 2.1% of Main Street Research LLC’s holdings, making the stock its 22nd largest position. Main Street Research LLC’s holdings in Ingersoll Rand were worth $25,925,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IR. Asset Management One Co. Ltd. boosted its stake in Ingersoll Rand by 3.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company’s stock valued at $12,691,000 after purchasing an additional 6,042 shares during the period. Consilium Wealth Advisory LLC boosted its position in shares of Ingersoll Rand by 17.5% in the fourth quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 2,210 shares during the period. Natixis Advisors L.P. increased its position in Ingersoll Rand by 8.6% during the third quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company’s stock worth $8,706,000 after acquiring an additional 10,840 shares during the period. Hsbc Holdings PLC raised its stake in Ingersoll Rand by 2.3% during the 3rd quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company’s stock valued at $36,222,000 after purchasing an additional 13,036 shares during the last quarter. Finally, Strategic Advisors LLC bought a new stake in Ingersoll Rand in the 4th quarter valued at $340,000. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction on 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 directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares in the company, valued at approximately $8,290,843.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Scheske sold 7,590 shares of Ingersoll Rand stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares of the company’s stock, valued at approximately $854,920. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,011 shares of company stock worth $26,374,789. 0.83% of the stock is currently owned by corporate insiders.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded up $0.39 during trading hours on Tuesday, hitting $91.67. 954,594 shares of the stock were exchanged, compared to its average volume of 2,465,130. Ingersoll Rand Inc. has a 12 month low of $53.24 and a 12 month high of $96.17. The business’s 50-day moving average is $90.87 and its two-hundred day moving average is $78.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The stock has a market capitalization of $36.98 billion, a P/E ratio of 47.92, a P/E/G ratio of 3.20 and a beta of 1.44.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. Equities research analysts expect that Ingersoll Rand Inc. will post 3.1 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is currently 4.21%.

Analyst Ratings Changes

A number of brokerages have recently commented on IR. Barclays upped their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Cfra raised their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. BNP Paribas started coverage on Ingersoll Rand in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price target for the company from $81.00 to $89.00 in a report on Tuesday, February 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

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.