Dakota Wealth Management Raises Stake in Ingersoll Rand Inc. (NYSE:IR)

Dakota Wealth Management boosted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 39.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 45,515 shares of the industrial products company’s stock after purchasing an additional 12,764 shares during the period. Dakota Wealth Management’s holdings in Ingersoll Rand were worth $4,468,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand in the 2nd quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand in the 1st quarter worth $28,000. ESL Trust Services LLC acquired a new stake in shares of Ingersoll Rand in the first quarter valued at about $35,000. Eastern Bank purchased a new stake in Ingersoll Rand during the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its position in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now owns 3,829 shares in the company, valued at $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock worth $7,108,005 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IR. Evercore ISI decreased their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Robert W. Baird upped their target price on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. Barclays lifted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Trading Up 0.2 %

Shares of IR opened at $96.09 on Friday. The stock’s 50-day moving average is $94.68 and its two-hundred day moving average is $93.31. The stock has a market cap of $38.77 billion, a PE ratio of 47.81, a P/E/G ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $102.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts forecast that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is currently 3.98%.

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.