FORA Capital LLC Makes New $2.15 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

FORA Capital LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,855 shares of the industrial products company's stock, valued at approximately $2,145,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in shares of Ingersoll Rand in the second quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $34,000. Eastern Bank acquired a new position in shares of Ingersoll Rand in the third quarter valued at $42,000. EverSource Wealth Advisors LLC lifted its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock worth $42,000 after purchasing an additional 126 shares during the period. Finally, UMB Bank n.a. boosted its stake in Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock worth $42,000 after buying an additional 309 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IR. Evercore ISI reduced 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 report on Monday, August 19th. Barclays lifted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Wells Fargo & Company boosted their price target 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, Stifel Nicolaus lowered Ingersoll Rand from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.83.

Ingersoll Rand Trading Down 0.7 %

Shares of NYSE IR traded down $0.69 during midday trading on Thursday, hitting $104.05. The stock had a trading volume of 1,170,873 shares, compared to its average volume of 2,512,319. 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 Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $106.03. The firm has a market cap of $41.93 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 4.00 and a beta of 1.42. The company's 50-day simple moving average is $99.91 and its 200 day simple moving average is $94.97.

Ingersoll Rand Announces Dividend

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

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm'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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.68% of the company's stock.

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.