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

Advisors Asset Management Inc. grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 25,840 shares of the industrial products company’s stock after buying an additional 950 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ingersoll Rand were worth $2,536,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ingersoll Rand during the third quarter worth $2,285,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Ingersoll Rand by 7.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,755 shares of the industrial products company’s stock worth $761,000 after acquiring an additional 512 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of Ingersoll Rand by 3.7% in the 3rd quarter. Pathstone Holdings LLC now owns 32,760 shares of the industrial products company’s stock valued at $3,216,000 after acquiring an additional 1,171 shares during the last quarter. Strengthening Families & Communities LLC raised its position in shares of Ingersoll Rand by 10.1% during the 3rd quarter. Strengthening Families & Communities LLC now owns 18,793 shares of the industrial products company’s stock worth $1,845,000 after acquiring an additional 1,720 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Ingersoll Rand by 7.8% during the third quarter. Empowered Funds LLC now owns 6,416 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 463 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. 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 Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and cut their target price for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Finally, Cfra upped their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.83.

Ingersoll Rand Stock Up 0.9 %

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

Ingersoll Rand Announces Dividend

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

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.