Advisors Asset Management Inc. Boosts Holdings in Ingersoll Rand Inc. (NYSE:IR)

Advisors Asset Management Inc. raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 25,840 shares of the industrial products company’s stock after purchasing an additional 950 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ingersoll Rand were worth $2,536,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IR. Natixis grew its holdings in Ingersoll Rand by 327.2% during the 1st quarter. Natixis now owns 4,857 shares of the industrial products company’s stock valued at $461,000 after buying an additional 3,720 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Ingersoll Rand by 44.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock worth $23,048,000 after purchasing an additional 74,788 shares in the last quarter. SVB Wealth LLC purchased a new stake in Ingersoll Rand during the 1st quarter worth about $314,000. Bayesian Capital Management LP raised its stake in Ingersoll Rand by 334.6% in the 1st quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock valued at $1,073,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its stake in shares of Ingersoll Rand by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,935 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 250 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Price Performance

IR opened at $104.00 on Friday. The company has a 50 day moving average of $99.20 and a two-hundred day moving average of $94.68. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company has a market cap of $41.91 billion, a P/E ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Wall Street Analyst Weigh In

IR has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Cfra upped their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Barclays increased their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI cut their price objective 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.83.

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.