Waterfront Wealth Inc. Buys 303 Shares of Ingersoll Rand Inc. (NYSE:IR)

Waterfront Wealth Inc. increased its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,366 shares of the industrial products company’s stock after acquiring an additional 303 shares during the period. Waterfront Wealth Inc.’s holdings in Ingersoll Rand were worth $802,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ingersoll Rand by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 44,054,298 shares of the industrial products company’s stock worth $2,218,134,000 after acquiring an additional 823,749 shares during the period. FMR LLC boosted 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 worth $1,222,789,000 after buying an additional 627,146 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ingersoll Rand by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,547,716 shares of the industrial products company’s stock valued at $735,821,000 after acquiring an additional 213,441 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ingersoll Rand by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 8,386,114 shares of the industrial products company’s stock valued at $486,798,000 after acquiring an additional 191,089 shares during the period. Finally, Morgan Stanley boosted its stake in Ingersoll Rand by 65.4% during the 4th quarter. Morgan Stanley now owns 4,701,832 shares of the industrial products company’s stock worth $245,671,000 after acquiring an additional 1,858,698 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.66 during trading hours on Thursday, hitting $90.23. 104,584 shares of the stock were exchanged, compared to its average volume of 2,438,284. Ingersoll Rand Inc. has a 1-year low of $53.24 and a 1-year high of $96.17. The company has a market cap of $36.40 billion, a PE ratio of 47.14, a price-to-earnings-growth ratio of 3.17 and a beta of 1.44. 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 company’s fifty day simple moving average is $91.12 and its two-hundred day simple moving average is $78.43.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company 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%. On average, sell-side analysts predict that Ingersoll Rand Inc. will post 3.1 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.09%. The ex-dividend date was Wednesday, March 6th. Ingersoll Rand’s payout ratio is presently 4.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IR shares. BNP Paribas started coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price on the stock. Cfra increased their price target on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Evercore ISI cut Ingersoll Rand from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $81.00 to $89.00 in a research note on Tuesday, February 20th. StockNews.com upgraded shares of Ingersoll Rand from a “hold” rating to a “buy” rating in a report on Sunday, April 7th. Finally, Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 10,421 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares in the company, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now directly owns 48,904 shares of the company’s stock, valued at approximately $4,398,914.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 35,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the sale, the insider now directly owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The disclosure for this sale can be found here. Insiders have sold a total of 293,011 shares of company stock valued at $26,374,789 over the last ninety days. 0.83% of the stock is owned by company 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.