Los Angeles Capital Management LLC Acquires Shares of 2,044 Ingersoll Rand Inc. (NYSE:IR)

Los Angeles Capital Management LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,044 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC lifted its position in 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 acquiring an additional 119 shares during the last quarter. Kanawha Capital Management LLC boosted its holdings in Ingersoll Rand by 2.4% in the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after purchasing an additional 119 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Ingersoll Rand by 38.5% in the 1st 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 raised its position in 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 valued at $300,000 after acquiring an additional 133 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

NYSE IR opened at $101.65 on Tuesday. The business’s 50-day moving average price is $98.12 and its 200 day moving average price is $94.31. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The firm has a market cap of $40.97 billion, a P/E ratio of 49.59, a P/E/G ratio of 3.89 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63.

Ingersoll Rand Dividend Announcement

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%.

Analyst Upgrades and Downgrades

IR has been the topic of a number of recent analyst reports. Cfra increased their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Barclays lifted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird reduced their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price target for the stock from $112.00 to $107.00 in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value 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. This represents a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 14,660 shares of company stock valued at $1,348,834. Corporate insiders own 0.68% of the company’s stock.

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.