Ingersoll Rand Inc. (NYSE:IR) Shares Purchased by Drake & Associates LLC

Drake & Associates LLC increased its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,394 shares of the industrial products company’s stock after purchasing an additional 533 shares during the quarter. Drake & Associates LLC’s holdings in Ingersoll Rand were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IR. Teamwork Financial Advisors LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth about $2,854,000. Bleakley Financial Group LLC boosted its position in shares of Ingersoll Rand by 128.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 17,914 shares of the industrial products company’s stock worth $1,758,000 after acquiring an additional 10,058 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Ingersoll Rand by 99.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 21,340 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 10,664 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Ingersoll Rand by 2.4% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 23,991 shares of the industrial products company’s stock worth $2,355,000 after acquiring an additional 571 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position in shares of Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 121 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value 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 $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Analyst Ratings Changes

IR has been the topic of a number of research reports. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Jefferies Financial Group initiated coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price target on the stock. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird raised their price target on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Cfra raised their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Stock Up 0.6 %

IR opened at $101.03 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The business has a 50 day simple moving average of $93.87 and a 200-day simple moving average of $93.14. The stock has a market capitalization of $40.76 billion, a P/E ratio of 50.26, a P/E/G ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $102.74.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, equities analysts anticipate that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.02 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend 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.