Carmel Capital Partners LLC Has $1.36 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Carmel Capital Partners LLC raised its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,882 shares of the industrial products company’s stock after buying an additional 504 shares during the period. Carmel Capital Partners LLC’s holdings in Ingersoll Rand were worth $1,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand in the first quarter worth about $28,000. ESL Trust Services LLC bought a new stake in Ingersoll Rand during the 1st quarter valued at approximately $35,000. EverSource Wealth Advisors LLC boosted its position in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the period. Finally, 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 last quarter. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Trading Down 0.9 %

IR opened at $102.62 on Friday. The firm has a 50 day simple moving average of $96.29 and a 200 day simple moving average of $93.84. Ingersoll Rand Inc. has a fifty-two week low of $66.30 and a fifty-two week high of $103.96. The company has a market cap of $41.35 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 3.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was 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 on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This trade represents a 0.00 % 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 business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 approximately $1,160,510.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,660 shares of company stock valued at $5,974,334 in the last 90 days. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on IR shares. Morgan Stanley began coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird dropped their price objective 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. Evercore ISI reduced their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $101.67.

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.