AdvisorNet Financial Inc Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

AdvisorNet Financial Inc increased its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 441.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,652 shares of the industrial products company's stock after acquiring an additional 15,207 shares during the period. AdvisorNet Financial Inc's holdings in Ingersoll Rand were worth $1,687,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock worth $1,789,376,000 after purchasing an additional 1,462,538 shares in the last quarter. FMR LLC boosted its stake in shares of Ingersoll Rand by 10.5% in the 3rd quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. State Street Corp grew its position in shares of Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company's stock worth $1,548,661,000 after buying an additional 112,824 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Ingersoll Rand by 2.5% during the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock worth $1,207,554,000 after buying an additional 278,710 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Ingersoll Rand by 0.6% in the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company's stock valued at $923,087,000 after acquiring an additional 54,952 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock traded up $1.14 during trading on Wednesday, reaching $90.54. The company's stock had a trading volume of 2,139,185 shares, compared to its average volume of 2,474,421. The company has a 50-day moving average price of $98.07 and a two-hundred day moving average price of $95.74. Ingersoll Rand Inc. has a fifty-two week low of $76.64 and a fifty-two week high of $106.03. The firm has a market cap of $36.49 billion, a PE ratio of 44.17, a P/E/G ratio of 3.84 and a beta of 1.44. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is presently 3.90%.

Analyst Upgrades and Downgrades

Several research firms have commented on IR. Citigroup lowered their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating for the company in a report on Monday. Stifel Nicolaus lowered Ingersoll Rand from a "buy" rating to a "hold" rating and dropped their target price for the company from $112.00 to $107.00 in a report on Monday, November 18th. UBS Group assumed coverage on Ingersoll Rand in a report on Wednesday, November 13th. They set a "buy" rating and a $124.00 price target for the company. Cfra upped their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Finally, Barclays cut their target price on Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.50.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.

Ingersoll Rand 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.