Ballentine Partners LLC Boosts Stake in Ingersoll Rand Inc. (NYSE:IR)

Ballentine Partners LLC grew its stake in Ingersoll Rand Inc. (NYSE:IR) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,174 shares of the industrial products company’s stock after buying an additional 290 shares during the period. Ballentine Partners LLC’s holdings in Ingersoll Rand were worth $1,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IR. Ashton Thomas Securities LLC purchased a new position in shares of Ingersoll Rand in the third quarter worth $34,000. Eastern Bank purchased a new position in shares of Ingersoll Rand in the third quarter worth $42,000. UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 27.0% during the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 127 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Ingersoll Rand during the second quarter worth $57,000. Finally, Versant Capital Management Inc raised its holdings in shares of Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IR. 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. Robert W. Baird reduced their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. 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. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a “buy” rating and a $124.00 target price for the company. Finally, Barclays dropped their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.50.

Insider Activity

In related news, 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 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. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Up 2.4 %

Shares of NYSE IR opened at $94.09 on Wednesday. The company’s 50-day simple moving average is $97.09 and its 200-day simple moving average is $95.76. Ingersoll Rand Inc. has a 52-week low of $78.36 and a 52-week high of $106.03. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of 45.90, a price-to-earnings-growth ratio of 3.59 and a beta of 1.44. 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 Announces Dividend

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

Ingersoll Rand 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.