Miracle Mile Advisors LLC Has $1.72 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Miracle Mile Advisors LLC grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 10.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,977 shares of the industrial products company’s stock after buying an additional 1,798 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Ingersoll Rand were worth $1,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand in the third quarter valued at approximately $34,000. Eastern Bank acquired a new position in shares of Ingersoll Rand in the third quarter valued at approximately $42,000. Kimelman & Baird LLC acquired a new position in shares of Ingersoll Rand in the second quarter valued at approximately $57,000. Versant Capital Management Inc boosted its holdings in shares of Ingersoll Rand by 654.4% in the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after buying an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Ingersoll Rand in the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company reduced their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. The Goldman Sachs Group increased their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Ingersoll Rand Stock Performance

NYSE IR opened at $89.40 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $98.07 and its two-hundred day moving average price is $95.74. Ingersoll Rand Inc. has a 1 year low of $76.64 and a 1 year high of $106.03. The firm has a market capitalization of $36.03 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

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.