Ingersoll Rand Inc. (NYSE:IR) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 99.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,031 shares of the industrial products company's stock after buying an additional 8,496 shares during the period. Edgestream Partners L.P.'s holdings in Ingersoll Rand were worth $1,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Verition Fund Management LLC raised its position in shares of Ingersoll Rand by 108.2% in the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company's stock valued at $724,000 after buying an additional 3,834 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Ingersoll Rand by 2.1% during the third quarter. Northwest & Ethical Investments L.P. now owns 35,351 shares of the industrial products company's stock worth $3,470,000 after buying an additional 728 shares during the period. PEAK6 Investments LLC boosted its stake in Ingersoll Rand by 5.8% during the third quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company's stock worth $1,869,000 after buying an additional 1,038 shares during the period. Public Sector Pension Investment Board boosted its stake in Ingersoll Rand by 13.6% during the third quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company's stock worth $1,725,000 after buying an additional 2,100 shares during the period. Finally, FORA Capital LLC purchased a new position in Ingersoll Rand during the third quarter worth about $2,145,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

Shares of NYSE IR traded down $0.28 during trading on Wednesday, hitting $103.96. 1,587,969 shares of the company were exchanged, compared to its average volume of 2,495,217. The company has a market cap of $41.90 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 3.99 and a beta of 1.42. Ingersoll Rand Inc. has a 1 year low of $71.21 and a 1 year high of $106.03. The firm's fifty day moving average price is $100.64 and its 200 day moving average price is $95.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Announces Dividend

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

Insider Transactions 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 shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IR. Barclays raised their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Robert W. Baird lowered 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, November 4th. Morgan Stanley began 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 for the company. Finally, Stifel Nicolaus lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their price objective for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus target price of $103.83.

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.