Ingersoll Rand Inc. $IR Stock Holdings Increased by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,296 shares of the industrial products company’s stock after buying an additional 4,635 shares during the period. Wealthfront Advisers LLC’s holdings in Ingersoll Rand were worth $2,936,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its stake in Ingersoll Rand by 14.4% in the first quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company’s stock valued at $245,000 after buying an additional 385 shares during the last quarter. Nordea Investment Management AB lifted its position in Ingersoll Rand by 4.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,797,823 shares of the industrial products company’s stock valued at $149,920,000 after purchasing an additional 74,070 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ingersoll Rand by 14.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 726,564 shares of the industrial products company’s stock worth $58,147,000 after purchasing an additional 91,777 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Ingersoll Rand by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 190,986 shares of the industrial products company’s stock worth $15,285,000 after purchasing an additional 4,690 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Ingersoll Rand by 1,460.0% in the 1st quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company’s stock worth $4,716,000 after purchasing an additional 55,146 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Up 0.9%

Ingersoll Rand stock opened at $79.53 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29. The firm has a market cap of $31.61 billion, a price-to-earnings ratio of 62.13, a price-to-earnings-growth ratio of 4.70 and a beta of 1.43. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The firm’s 50 day moving average price is $79.90 and its two-hundred day moving average price is $80.74.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%.The company’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. On average, research analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 6.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IR shares. Citigroup reiterated a “buy” rating and set a $104.00 price objective (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ingersoll Rand in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price target on Ingersoll Rand from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Melius lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and set a $93.00 target price for the company. in a research report on Monday, July 14th. Finally, Robert W. Baird increased their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.09.

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.