Wilmington Savings Fund Society FSB Acquires New Position in Ingersoll Rand Inc. (NYSE:IR)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,730 shares of the industrial products company’s stock, valued at approximately $562,000.

A number of other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand in the third quarter worth about $34,000. Eastern Bank purchased a new stake in shares of Ingersoll Rand during the third quarter worth about $42,000. UMB Bank n.a. raised its stake in Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Ingersoll Rand in the 2nd quarter worth approximately $43,000. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IR has been the subject of a number of research analyst reports. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Evercore ISI reduced their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Cfra lifted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.67.

Insider Buying and Selling

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Performance

NYSE:IR opened at $101.10 on Monday. The firm has a market capitalization of $40.74 billion, a PE ratio of 49.32, a PEG ratio of 3.86 and a beta of 1.42. The stock’s fifty day moving average is $101.10 and its 200 day moving average is $95.78. Ingersoll Rand Inc. has a fifty-two week low of $74.01 and a fifty-two week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

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.