National Bank of Canada FI lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 56.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,868 shares of the industrial products company's stock after purchasing an additional 62,522 shares during the period. National Bank of Canada FI's holdings in Ingersoll Rand were worth $17,067,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the second quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $34,000. UMB Bank n.a. boosted its stake in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 309 shares during the last quarter. Eastern Bank acquired a new stake in shares of Ingersoll Rand during the third quarter worth $42,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Ingersoll Rand during the second quarter worth $43,000. Institutional investors and hedge funds own 95.27% of the company's stock.
Ingersoll Rand Stock Down 0.7 %
Shares of NYSE:IR traded down $0.72 during midday trading on Tuesday, hitting $101.82. 1,416,833 shares of the company's stock were exchanged, compared to its average volume of 2,482,284. Ingersoll Rand Inc. has a 12 month low of $73.38 and a 12 month high of $106.03. The company has a market cap of $41.03 billion, a PE ratio of 49.68, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The stock has a 50 day moving average price of $100.94 and a 200-day moving average price of $95.56.
Ingersoll Rand Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders 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 yield of 0.08%. The ex-dividend date was Thursday, November 14th. Ingersoll Rand's dividend payout ratio is currently 3.90%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on IR. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. Citigroup upped their target price on Ingersoll Rand from $112.00 to $119.00 and gave the company a "buy" rating in a research report on Monday. Cfra lifted their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Wells Fargo & Company increased their price target on Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Barclays lifted their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average price target of $105.67.
View Our Latest Research Report on IR
Insider Transactions at Ingersoll Rand
In other news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company's stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.68% of the company's stock.
Ingersoll Rand Company Profile
(
Free Report)
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.
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