UBS Group AG Raises Stock Position in Ingersoll Rand Inc. (NYSE:IR)

UBS Group AG grew its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 120.2% during the first quarter, Holdings Channel reports. The firm owned 1,109,240 shares of the industrial products company’s stock after purchasing an additional 605,469 shares during the quarter. UBS Group AG’s holdings in Ingersoll Rand were worth $54,586,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IR. Norges Bank purchased a new stake in Ingersoll Rand during the fourth quarter worth about $147,637,000. BlackRock Inc. increased its stake in Ingersoll Rand by 8.0% during the first quarter. BlackRock Inc. now owns 24,133,581 shares of the industrial products company’s stock worth $1,187,613,000 after purchasing an additional 1,796,284 shares during the period. JPMorgan Chase & Co. increased its stake in Ingersoll Rand by 32.2% during the fourth quarter. JPMorgan Chase & Co. now owns 6,419,727 shares of the industrial products company’s stock worth $292,483,000 after purchasing an additional 1,564,216 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Ingersoll Rand by 6.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 10,910,498 shares of the industrial products company’s stock worth $497,082,000 after buying an additional 691,709 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Ingersoll Rand by 10.4% during the first quarter. Alliancebernstein L.P. now owns 3,814,460 shares of the industrial products company’s stock worth $187,710,000 after buying an additional 357,850 shares during the period. Institutional investors own 93.03% of the company’s stock.

In other Ingersoll Rand news, major shareholder Renaissance Aggregator L.P Kkr sold 14,924,081 shares of the firm’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $48.57, for a total value of $724,862,614.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by company insiders.

Shares of NYSE IR opened at $47.36 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.16 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average is $49.52. Ingersoll Rand Inc. has a 1-year low of $26.72 and a 1-year high of $52.12. The firm has a market capitalization of $19.87 billion, a P/E ratio of -225.52 and a beta of 1.52.

Ingersoll Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, April 28th. The industrial products company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.54. Ingersoll Rand had a positive return on equity of 1.29% and a negative net margin of 1.59%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 94.7% on a year-over-year basis. On average, research analysts expect that Ingersoll Rand Inc. will post 0.1 EPS for the current year.

A number of research firms recently weighed in on IR. TheStreet upgraded shares of Ingersoll Rand from a “c+” rating to a “b-” rating in a research note on Wednesday, April 28th. Evercore ISI upped their target price on shares of Ingersoll Rand from $48.00 to $53.00 in a research note on Wednesday, May 12th. Credit Suisse Group increased their price target on shares of Ingersoll Rand from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, March 2nd. Barclays increased their price target on shares of Ingersoll Rand from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 6th. Finally, Telsey Advisory Group increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 in a research note on Friday, May 21st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $56.23.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle and medical technologies in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Industrial Technologies and Services; Precision and Science Technologies; Specialty Vehicle Technologies; and High Pressure Solutions segments.

See Also: Environmental, Social, and Governance (ESG) Investing

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Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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