Atria Wealth Solutions Inc. Decreases Stock Holdings in Ingersoll Rand Inc. $IR

Atria Wealth Solutions Inc. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,892 shares of the industrial products company's stock after selling 4,067 shares during the period. Atria Wealth Solutions Inc.'s holdings in Ingersoll Rand were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new stake in Ingersoll Rand in the first quarter valued at approximately $262,000. Concurrent Investment Advisors LLC lifted its position in shares of Ingersoll Rand by 14.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,066 shares of the industrial products company's stock worth $245,000 after purchasing an additional 385 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Ingersoll Rand by 9.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,669 shares of the industrial products company's stock valued at $614,000 after purchasing an additional 660 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Ingersoll Rand by 19.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 11,823 shares of the industrial products company's stock worth $946,000 after buying an additional 1,948 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Ingersoll Rand by 1,460.0% in the first quarter. Teacher Retirement System of Texas now owns 58,923 shares of the industrial products company's stock valued at $4,716,000 after buying an additional 55,146 shares during the period. Institutional investors own 95.27% of the company's stock.

Insider Activity

In other Ingersoll Rand news, insider Vicente Reynal sold 38,657 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the completion of the sale, the insider owned 193,186 shares in the company, valued at approximately $16,040,233.58. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IR shares. Wells Fargo & Company upped their price target on Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Morgan Stanley lowered their target price on Ingersoll Rand from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Barclays cut their price objective on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Robert W. Baird lifted their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Citigroup reaffirmed a "buy" rating and set a $104.00 price target (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $97.75.

Ingersoll Rand Trading Up 0.6%

Shares of IR stock traded up $0.50 on Monday, hitting $78.82. 470,642 shares of the company's stock traded hands, compared to its average volume of 2,961,797. The stock has a market capitalization of $31.33 billion, a price-to-earnings ratio of 61.57, a P/E/G ratio of 4.42 and a beta of 1.41. The company's fifty day simple moving average is $83.40 and its 200 day simple moving average is $81.74. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $106.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.29.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company's quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts forecast that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its board has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 14th. Ingersoll Rand's dividend payout ratio is 6.25%.

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.