Pine Valley Investments Ltd Liability Co Increases Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Pine Valley Investments Ltd Liability Co boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 11.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,043 shares of the industrial products company’s stock after purchasing an additional 309 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Ingersoll Rand were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IR. Daiwa Securities Group Inc. grew its holdings in shares of Ingersoll Rand by 9.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. GDS Wealth Management lifted its position in Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after buying an additional 10,081 shares during the last quarter. Intech Investment Management LLC boosted its stake in Ingersoll Rand by 28.2% during the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after buying an additional 22,401 shares during the period. AXA S.A. increased its position in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after acquiring an additional 39,417 shares during the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Ingersoll Rand by 3.0% in the 2nd quarter. Candriam S.C.A. now owns 199,419 shares of the industrial products company’s stock valued at $18,114,000 after acquiring an additional 5,797 shares during the period. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IR shares. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird decreased their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays raised their target price on Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.67.

Ingersoll Rand Stock Down 0.3 %

Shares of Ingersoll Rand stock opened at $101.10 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52-week low of $74.01 and a 52-week high of $106.03. The company has a market capitalization of $40.74 billion, a P/E ratio of 49.32, a P/E/G ratio of 3.86 and a beta of 1.42. The company has a 50 day moving average of $101.10 and a 200 day moving average of $95.73.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

Insider Activity at Ingersoll Rand

In related news, 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 directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

About Ingersoll Rand

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.