Weiss Asset Management LP Makes New $1.57 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

Weiss Asset Management LP purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) in the third quarter, according to its most recent filing with the SEC. The fund purchased 15,972 shares of the industrial products company’s stock, valued at approximately $1,568,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after purchasing an additional 1,538,056 shares during the period. State Street Corp boosted its holdings in shares of Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after buying an additional 112,824 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Ingersoll Rand by 1.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after buying an additional 114,727 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ingersoll Rand by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after buying an additional 224,463 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Ingersoll Rand by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock worth $216,763,000 after acquiring an additional 21,289 shares during the period. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Barclays upped their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI cut their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Robert W. Baird decreased their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.08.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $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 accessible through this link. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Trading Down 0.7 %

Shares of NYSE:IR opened at $102.28 on Friday. The firm has a fifty day moving average of $100.86 and a two-hundred day moving average of $95.52. 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 12-month low of $71.54 and a 12-month high of $106.03. The firm has a market capitalization of $41.22 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42.

Ingersoll Rand Announces Dividend

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

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.