DRW Securities LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

DRW Securities LLC purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,535 shares of the industrial products company's stock, valued at approximately $543,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC acquired a new position in Ingersoll Rand in the 1st quarter worth approximately $314,000. B. Riley Wealth Advisors Inc. boosted its holdings in Ingersoll Rand by 14.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,112 shares of the industrial products company's stock valued at $295,000 after purchasing an additional 399 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Ingersoll Rand by 65.2% during the 1st quarter. Tidal Investments LLC now owns 25,784 shares of the industrial products company's stock valued at $2,448,000 after buying an additional 10,178 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Ingersoll Rand during the first quarter worth about $1,076,000. Finally, Plato Investment Management Ltd boosted its holdings in Ingersoll Rand by 2,384.1% during the first quarter. Plato Investment Management Ltd now owns 4,521 shares of the industrial products company's stock worth $429,000 after buying an additional 4,339 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IR. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Robert W. Baird dropped their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Cfra upped their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. UBS Group started coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a "buy" rating and a $124.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and an average price target of $103.83.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Down 0.7 %

IR traded down $0.69 during trading hours on Wednesday, hitting $104.05. 1,155,330 shares of the company's stock were exchanged, compared to its average volume of 2,512,251. The firm has a market cap of $41.93 billion, a P/E ratio of 51.08, a price-to-earnings-growth ratio of 4.00 and a beta of 1.42. 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 Inc. has a 12-month low of $69.46 and a 12-month high of $106.03. The firm has a 50 day moving average of $99.70 and a 200 day moving average of $94.91.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand's payout ratio is 3.90%.

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.