abrdn plc Sells 4,994 Shares of Ingersoll Rand Inc. (NYSE:IR)

abrdn plc cut its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,163 shares of the industrial products company’s stock after selling 4,994 shares during the quarter. abrdn plc’s holdings in Ingersoll Rand were worth $14,999,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IR. Capital International Investors increased its stake in Ingersoll Rand by 113.7% in the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock valued at $2,484,486,000 after purchasing an additional 13,919,775 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 28.4% in the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares in the last quarter. Capital Research Global Investors raised its stake in Ingersoll Rand by 15.3% during the 1st quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock worth $1,074,477,000 after buying an additional 1,504,414 shares during the period. Capital World Investors acquired a new stake in Ingersoll Rand during the 1st quarter worth $440,401,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IR shares. Stifel Nicolaus increased their target price on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra increased their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Evercore ISI reduced their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Robert W. Baird lifted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Activity

In related news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last three months. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE IR opened at $93.97 on Friday. The firm’s fifty day moving average price is $95.32 and its two-hundred day moving average price is $93.46. Ingersoll Rand Inc. has a 1 year low of $62.12 and a 1 year high of $102.74. The firm has a market capitalization of $37.92 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 2.66 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, research analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 3.96%.

Ingersoll Rand Company Profile

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.