EP Wealth Advisors LLC Takes $546,000 Position in Ingersoll Rand Inc. (NYSE:IR)

EP Wealth Advisors LLC purchased a new stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,561 shares of the industrial products company's stock, valued at approximately $546,000.

Several other institutional investors have also made changes to their positions in IR. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% during 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 last quarter. International Assets Investment Management LLC lifted its holdings in shares of Ingersoll Rand by 9,681.5% during the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company's stock valued at $353,720,000 after buying an additional 356,665 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Ingersoll Rand by 20.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company's stock valued at $132,168,000 after acquiring an additional 250,712 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ingersoll Rand by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company's stock valued at $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company's stock valued at $70,920,000 after acquiring an additional 198,200 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following 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 at this hyperlink. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Performance

IR stock traded down $0.26 during midday trading on Thursday, hitting $101.42. The stock had a trading volume of 1,194,115 shares, compared to its average volume of 2,471,497. Ingersoll Rand Inc. has a 52 week low of $73.52 and a 52 week high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $101.05 and a 200 day simple moving average of $95.65. The firm has a market capitalization of $40.87 billion, a price-to-earnings ratio of 49.49, a P/E/G ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were 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 was Thursday, November 14th. Ingersoll Rand's payout ratio is 3.90%.

Analysts Set New Price Targets

IR has been the topic of a number of recent analyst reports. Barclays raised their price objective on Ingersoll Rand from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Citigroup raised their price objective on Ingersoll Rand from $112.00 to $119.00 and gave the company a "buy" rating in a research note on Monday. The Goldman Sachs Group raised their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company raised 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. Finally, Robert W. Baird cut their price objective on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. 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.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average target price of $107.67.

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.