Hartford Funds Management Co LLC Purchases 884 Shares of Ingersoll Rand Inc. (NYSE:IR)

Hartford Funds Management Co LLC boosted its position in Ingersoll Rand Inc. (NYSE:IR) by 15.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,795 shares of the industrial products company’s stock after acquiring an additional 884 shares during the period. Hartford Funds Management Co LLC’s holdings in Ingersoll Rand were worth $667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its position in shares of Ingersoll Rand by 5.5% during the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Kanawha Capital Management LLC increased its position in shares of Ingersoll Rand by 2.4% during the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 6.0% during the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after buying an additional 121 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 133 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at $344,571.71. The trade was a 54.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated 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 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 insiders.

Analyst Upgrades and Downgrades

IR has been the subject of several recent analyst reports. Evercore ISI cut their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Robert W. Baird cut their target price 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. Wells Fargo & Company upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group began coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 target price for the company. Finally, Stifel Nicolaus lowered 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 note on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Ingersoll Rand Stock Up 0.9 %

Shares of Ingersoll Rand stock opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42. The company’s 50 day moving average price is $99.20 and its 200-day moving average price is $94.68.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.02 dividend. 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 dividend payout ratio is 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.