Assetmark Inc. Purchases 37,154 Shares of Ingersoll Rand Inc. (NYSE:IR)

Assetmark Inc. raised its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 61.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,723 shares of the industrial products company's stock after purchasing an additional 37,154 shares during the quarter. Assetmark Inc.'s holdings in Ingersoll Rand were worth $9,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Ingersoll Rand by 5.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,268 shares of the industrial products company's stock valued at $595,000 after acquiring an additional 328 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $204,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $220,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $1,272,000. Finally, NorthRock Partners LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $241,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

IR stock traded up $2.19 during trading on Monday, hitting $104.80. 2,746,307 shares of the company's stock traded hands, compared to its average volume of 2,546,391. Ingersoll Rand Inc. has a 52 week low of $68.06 and a 52 week high of $105.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The business has a fifty day simple moving average of $96.29 and a 200 day simple moving average of $93.87. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 50.05, a P/E/G ratio of 3.90 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on IR. Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target on the stock. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Robert W. Baird reduced 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. Finally, 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 research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.67.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 0.00 % 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. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the transaction, the insider now owns 6,559 shares of the company's stock, valued at $599,623.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Scheske sold 2,531 shares of the firm's 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,660 shares of company stock worth $5,974,334. 0.68% of the stock is currently owned by insiders.

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.