GDS Wealth Management Has $14.28 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

GDS Wealth Management lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,167 shares of the industrial products company’s stock after buying an additional 11,055 shares during the period. Ingersoll Rand comprises about 1.6% of GDS Wealth Management’s investment portfolio, making the stock its 26th largest holding. GDS Wealth Management’s holdings in Ingersoll Rand were worth $14,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors lifted its position in Ingersoll Rand by 113.7% during the 1st quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after buying an additional 13,919,775 shares in the last quarter. Capital World Investors acquired a new position in Ingersoll Rand during the first quarter valued at approximately $440,401,000. Norges Bank bought a new position in Ingersoll Rand in the fourth quarter valued at approximately $301,890,000. JPMorgan Chase & Co. increased its position in shares of Ingersoll Rand by 28.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock worth $1,517,040,000 after purchasing an additional 3,535,543 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Ingersoll Rand by 46.6% during the 4th quarter. Capital Research Global Investors now owns 9,811,827 shares of the industrial products company’s stock worth $758,847,000 after purchasing an additional 3,119,793 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated 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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of the company’s 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 completion of the sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 in the last 90 days. 0.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IR shares. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research note on Friday, June 21st. They issued a “buy” rating and a $110.00 target price for the company. Evercore ISI lowered their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays reduced their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Cfra reiterated a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Ingersoll Rand Stock Performance

NYSE:IR opened at $90.94 on Tuesday. Ingersoll Rand Inc. has a twelve month low of $59.20 and a twelve month high of $101.30. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $92.40 and its 200 day simple moving average is $92.15. The firm has a market capitalization of $36.69 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

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.