FORA Capital LLC Acquires New Position in Ingersoll Rand Inc. (NYSE:IR)

FORA Capital LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, Holdings Channel reports. The firm bought 21,855 shares of the industrial products company’s stock, valued at approximately $2,145,000.

A number of other hedge funds also recently added to or reduced their stakes in IR. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the third quarter worth $34,000. Eastern Bank acquired a new stake in Ingersoll Rand in the third quarter valued at $42,000. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% in the first 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 in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after buying an additional 309 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective on the stock. UBS Group assumed coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Trading Down 0.7 %

NYSE IR opened at $104.05 on Thursday. The company has a market cap of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a 50-day moving average of $99.91 and a 200-day moving average of $94.97.

Ingersoll Rand Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Ingersoll Rand Company 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.