Ingersoll Rand Inc. (NYSE:IR) Shares Bought by Keybank National Association OH

Posted by on Apr 21st, 2023

Keybank National Association OH boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,805 shares of the industrial products company’s stock after purchasing an additional 195 shares during the period. Keybank National Association OH’s holdings in Ingersoll Rand were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Putnam Investments LLC raised its position in shares of Ingersoll Rand by 207.6% in the third quarter. Putnam Investments LLC now owns 9,004,468 shares of the industrial products company’s stock worth $389,533,000 after acquiring an additional 6,077,376 shares during the period. Fisher Asset Management LLC increased 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 purchasing an additional 4,423,551 shares in the last quarter. BlackRock Inc. increased 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 purchasing an additional 1,286,810 shares in the last quarter. CCLA Investment Management purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $55,658,000. Finally, Vanguard Group Inc. increased 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 purchasing an additional 823,749 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $55.36 on Friday. The firm has a 50 day simple moving average of $56.49 and a 200-day simple moving average of $53.92. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $60.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.37 and a quick ratio of 1.76. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of 37.41 and a beta of 1.42.

Ingersoll Rand (NYSE:IR – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. Ingersoll Rand had a net margin of 10.22% and a return on equity of 9.99%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts expect that Ingersoll Rand Inc. will post 2.38 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Wednesday, March 1st were issued a $0.02 dividend. The ex-dividend date was Tuesday, February 28th. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. Ingersoll Rand’s dividend payout ratio is currently 5.41%.

Insider Transactions at Ingersoll Rand

In other news, insider Vicente Reynal sold 25,000 shares of the company’s 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 transaction, the insider now directly owns 102,856 shares in the company, valued at approximately $6,171,360. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Ingersoll Rand from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. Barclays upped their price objective on shares of Ingersoll Rand from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. StockNews.com initiated coverage on shares of Ingersoll Rand in a research note on Thursday, March 16th. They set a “buy” rating for the company. Finally, Citigroup upped their price objective on shares of Ingersoll Rand from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

Ingersoll Rand 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.

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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