Lake Street Advisors Group LLC Takes $209,000 Position in Ingersoll Rand Inc. (NYSE:IR)

Lake Street Advisors Group LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,132 shares of the industrial products company’s stock, valued at approximately $209,000.

Other large investors also recently bought and sold shares of the company. Capital International Investors increased its position in shares of Ingersoll Rand by 113.7% during the first quarter. Capital International Investors now owns 26,166,256 shares of the industrial products company’s stock worth $2,484,486,000 after acquiring an additional 13,919,775 shares during the period. Capital World Investors acquired a new position in shares of Ingersoll Rand during the first quarter worth $440,401,000. JPMorgan Chase & Co. increased its holdings in Ingersoll Rand by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 15,977,246 shares of the industrial products company’s stock valued at $1,517,040,000 after buying an additional 3,535,543 shares during the last quarter. Capital Research Global Investors raised its stake in Ingersoll Rand by 15.3% in the first quarter. Capital Research Global Investors now owns 11,316,241 shares of the industrial products company’s stock valued at $1,074,477,000 after buying an additional 1,504,414 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Ingersoll Rand during the 1st quarter worth about $55,310,000. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target on the stock. Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lowered their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Activity at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the 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 completion of the transaction, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Kathleen M. Keene sold 4,629 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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 approximately $344,571.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last three months. 0.68% of the stock is owned by insiders.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $96.12 on Monday. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $102.74. The firm has a market capitalization of $38.78 billion, a P/E ratio of 47.82, a PEG ratio of 2.69 and a beta of 1.42. The company’s fifty day moving average is $94.78 and its two-hundred day moving average is $93.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.78 billion. Analysts forecast that Ingersoll Rand Inc. will post 3.21 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date 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.