Creative Planning Has $10.79 Million Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Creative Planning raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 66.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,961 shares of the industrial products company's stock after purchasing an additional 43,801 shares during the quarter. Creative Planning's holdings in Ingersoll Rand were worth $10,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Park Avenue Securities LLC increased its position in shares of Ingersoll Rand by 12.2% during the 1st quarter. Park Avenue Securities LLC now owns 3,551 shares of the industrial products company's stock worth $337,000 after purchasing an additional 387 shares in the last quarter. Riverview Trust Co bought a new stake in Ingersoll Rand during the 1st quarter worth approximately $29,000. Wealth Enhancement Advisory Services LLC increased its holdings in Ingersoll Rand by 4.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,630 shares of the industrial products company's stock valued at $1,389,000 after purchasing an additional 564 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Ingersoll Rand in the 1st quarter valued at $323,000. Finally, Register Financial Advisors LLC acquired a new position in Ingersoll Rand during the 1st quarter worth about $49,000. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on IR. Wells Fargo & Company increased their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.17.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the company's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now directly owns 3,829 shares of the company's stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 in the last three months. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Stock Down 2.1 %

Shares of IR stock traded down $2.07 on Wednesday, hitting $96.39. 2,985,388 shares of the stock were exchanged, compared to its average volume of 2,546,988. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $38.89 billion, a P/E ratio of 47.96, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $59.20 and a fifty-two week high of $102.74. The business has a 50-day moving average of $94.60 and a 200 day moving average of $93.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities analysts anticipate that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand 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.