BNC Wealth Management LLC Buys Shares of 24,746 Ingersoll Rand Inc. (NYSE:IR)

BNC Wealth Management LLC purchased a new position in Ingersoll Rand Inc. (NYSE:IR) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 24,746 shares of the industrial products company’s stock, valued at approximately $2,429,000.

A number of other hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC raised its stake 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 worth $206,000 after purchasing an additional 119 shares during the period. Kanawha Capital Management LLC raised its position in shares of Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC lifted its holdings in Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 121 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. Finally, Resonant Capital Advisors LLC increased its stake 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 worth $300,000 after acquiring an additional 133 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IR. Barclays lifted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the transaction, the insider now owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand 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 completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at $344,571.71. 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 62,129 shares of company stock valued at $5,727,714 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR opened at $102.98 on Thursday. Ingersoll Rand Inc. has a 52-week low of $64.60 and a 52-week high of $103.25. 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 company has a market capitalization of $41.50 billion, a PE ratio of 50.23, a P/E/G ratio of 2.59 and a beta of 1.42. The company has a 50-day simple moving average of $95.81 and a 200-day simple moving average of $93.67.

Ingersoll Rand Dividend Announcement

The firm 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 is Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

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.