24,746 Shares in Ingersoll Rand Inc. (NYSE:IR) Purchased by BNC Wealth Management LLC

BNC Wealth Management LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,746 shares of the industrial products company's stock, valued at approximately $2,429,000.

A number of other large investors have also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of Ingersoll Rand by 20.4% in the first quarter. Janney Montgomery Scott LLC now owns 46,261 shares of the industrial products company's stock valued at $4,393,000 after purchasing an additional 7,824 shares during the last quarter. Signaturefd LLC increased its holdings in Ingersoll Rand by 4.0% during the first quarter. Signaturefd LLC now owns 10,897 shares of the industrial products company's stock worth $1,035,000 after buying an additional 424 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Ingersoll Rand by 28.4% in the first quarter. Geneos Wealth Management Inc. now owns 637 shares of the industrial products company's stock worth $60,000 after acquiring an additional 141 shares during the period. Oxbow Advisors LLC purchased a new position in Ingersoll Rand in the first quarter valued at about $218,000. Finally, Duality Advisers LP increased its stake in shares of Ingersoll Rand by 23.9% during the 1st quarter. Duality Advisers LP now owns 27,777 shares of the industrial products company's stock worth $2,637,000 after purchasing an additional 5,367 shares during the last quarter. 95.27% of the stock is owned by institutional investors.

Insider Transactions at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kathleen M. Keene sold 4,629 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vicente Reynal sold 50,000 shares of the company's stock in a transaction that occurred on 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 directly owns 100,367 shares of the company's stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,129 shares of company stock valued at $5,727,714. Insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IR. Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price objective for the company. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Barclays boosted their price target 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. Finally, Robert W. Baird reduced their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research note on Monday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $101.67.

Ingersoll Rand Price Performance

Shares of NYSE IR traded up $0.16 during mid-day trading on Thursday, reaching $103.14. 882,326 shares of the company were exchanged, compared to its average volume of 2,537,983. Ingersoll Rand Inc. has a 52 week low of $65.50 and a 52 week high of $103.94. 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 stock has a market capitalization of $41.57 billion, a PE ratio of 50.23, a PEG ratio of 2.59 and a beta of 1.42. The company's 50 day moving average price is $95.81 and its 200 day moving average price is $93.67.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued 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 dividend payout ratio is currently 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.