Allspring Global Investments Holdings LLC Sells 54,702 Shares of Ingersoll Rand Inc. (NYSE:IR)

Allspring Global Investments Holdings LLC trimmed its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,492 shares of the industrial products company's stock after selling 54,702 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Ingersoll Rand worth $34,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its stake in shares of Ingersoll Rand by 3.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 163,162 shares of the industrial products company's stock worth $12,691,000 after buying an additional 6,042 shares during the last quarter. Consilium Wealth Advisory LLC lifted its stake in shares of Ingersoll Rand by 17.5% in the fourth quarter. Consilium Wealth Advisory LLC now owns 14,864 shares of the industrial products company's stock worth $1,150,000 after buying an additional 2,210 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Ingersoll Rand by 8.6% in the third quarter. Natixis Advisors L.P. now owns 136,629 shares of the industrial products company's stock worth $8,706,000 after buying an additional 10,840 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Ingersoll Rand by 2.3% in the third quarter. Hsbc Holdings PLC now owns 568,633 shares of the industrial products company's stock worth $36,222,000 after buying an additional 13,036 shares during the last quarter. Finally, Strategic Advisors LLC bought a new position in Ingersoll Rand during the fourth quarter worth $340,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 240,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the sale, the insider now owns 91,957 shares of the company's stock, valued at approximately $8,290,843.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 7,590 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The disclosure for this sale can be found here. Insiders sold 293,011 shares of company stock worth $26,374,789 in the last quarter. 0.83% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $1.25 on Friday, hitting $91.92. The company's stock had a trading volume of 1,509,215 shares, compared to its average volume of 2,079,450. The firm has a market cap of $37.08 billion, a P/E ratio of 48.38, a price-to-earnings-growth ratio of 3.25 and a beta of 1.44. The company has a quick ratio of 1.67, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $90.70 and a 200-day moving average price of $77.87. Ingersoll Rand Inc. has a one year low of $53.24 and a one year high of $96.17.

Ingersoll Rand (NYSE:IR - Get Free Report) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.1 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. 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 Wednesday, March 6th. Ingersoll Rand's dividend payout ratio (DPR) is currently 4.21%.

Analysts Set New Price Targets

IR has been the topic of a number of research reports. StockNews.com raised shares of Ingersoll Rand from a "hold" rating to a "buy" rating in a research report on Sunday, April 7th. Citigroup boosted their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Evercore ISI lowered shares of Ingersoll Rand from an "outperform" rating to an "in-line" rating and boosted their target price for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $83.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.73.

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.