Cwm LLC Grows Holdings in Ingersoll Rand Inc. (NYSE:IR)

Posted by on Apr 23rd, 2023

Cwm LLC increased its position in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,075 shares of the industrial products company’s stock after purchasing an additional 440 shares during the quarter. Cwm LLC’s holdings in Ingersoll Rand were worth $474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its position in Ingersoll Rand by 81.3% in the third quarter. Cullen Frost Bankers Inc. now owns 638 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Parkside Financial Bank & Trust raised its position in Ingersoll Rand by 87.0% in the third quarter. Parkside Financial Bank & Trust now owns 705 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 328 shares during the period. Guardian Wealth Advisors LLC bought a new stake in Ingersoll Rand in the third quarter worth about $30,000. CI Investments Inc. raised its position in Ingersoll Rand by 103.1% in the third quarter. CI Investments Inc. now owns 971 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 493 shares during the period. Finally, Clear Street Markets LLC raised its position in Ingersoll Rand by 56.9% in the third quarter. Clear Street Markets LLC now owns 1,334 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 484 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 25,000 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. Following the transaction, the insider now owns 102,856 shares of the company’s stock, valued at $6,171,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on IR. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, April 13th. Robert W. Baird increased their target price on Ingersoll Rand from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Ingersoll Rand from $55.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, April 12th. StockNews.com assumed coverage on Ingersoll Rand in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus lifted their target price on Ingersoll Rand from $60.00 to $61.00 and gave the company a “hold” rating in a report on Monday, April 17th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.80.

Ingersoll Rand Trading Down 0.0 %

Shares of Ingersoll Rand stock opened at $55.34 on Friday. The company has a 50 day simple moving average of $56.46 and a two-hundred day simple moving average of $53.99. The firm has a market cap of $22.41 billion, a PE ratio of 37.39 and a beta of 1.42. 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.

Ingersoll Rand (NYSE:IR – Get Rating) last released its earnings results on Tuesday, February 21st. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Ingersoll Rand had a return on equity of 9.99% and a net margin of 10.22%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Ingersoll Rand Inc. will post 2.39 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

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

About Ingersoll Rand

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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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