Douglas Lane & Associates LLC increased its holdings in Ingersoll Rand Inc. (NYSE:IR) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 889,140 shares of the industrial products company’s stock after buying an additional 63,781 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Ingersoll Rand were worth $40,509,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vestcor Inc lifted its position in Ingersoll Rand by 4.5% during the third quarter. Vestcor Inc now owns 7,696 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 331 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Ingersoll Rand by 2.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,062 shares of the industrial products company’s stock valued at $536,000 after purchasing an additional 344 shares during the period. Endurance Wealth Management Inc. increased its position in Ingersoll Rand by 1.2% in the 3rd quarter. Endurance Wealth Management Inc. now owns 29,558 shares of the industrial products company’s stock valued at $1,052,000 after acquiring an additional 346 shares during the period. World Asset Management Inc raised its stake in shares of Ingersoll Rand by 5.4% during the third quarter. World Asset Management Inc now owns 7,676 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 391 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Ingersoll Rand by 12.1% in the third quarter. CWM LLC now owns 4,416 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
IR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Ingersoll Rand from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, November 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Ingersoll Rand from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $53.00 in a report on Monday, December 14th. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research note on Thursday, September 24th. They issued a “buy” rating and a $42.00 target price for the company. Smith Barney Citigroup raised shares of Ingersoll Rand from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $53.00 in a research note on Monday, December 14th. Finally, Morgan Stanley raised their target price on Ingersoll Rand from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.26.
Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Monday, November 2nd. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.09. Ingersoll Rand had a negative return on equity of 2.27% and a negative net margin of 3.97%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 123.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ingersoll Rand Inc. will post -0.27 EPS for the current fiscal year.
In other news, VP Michael J. Scheske sold 2,281 shares of the stock in a transaction that occurred on Wednesday, January 6th. The shares were sold at an average price of $47.00, for a total transaction of $107,207.00. Following the sale, the vice president now owns 3,293 shares in the company, valued at $154,771. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael J. Scheske sold 7,683 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $42.30, for a total value of $324,990.90. Following the completion of the transaction, the vice president now owns 8,683 shares of the company’s stock, valued at approximately $367,290.90. The disclosure for this sale can be found here. Insiders sold 126,686 shares of company stock worth $5,399,155 over the last three months. 0.70% of the stock is owned by insiders.
Ingersoll Rand Company Profile
Ingersoll Rand Inc provides mission-critical flow control and compression equipment, and associated aftermarket parts, consumables, and services in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Industrials, Energy, and Medical. The Industrials segment designs, manufactures, markets, and services a range of air compression, vacuum, and blower products, as well as offers associated aftermarket parts, consumables, and services.
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