International Assets Investment Management LLC Acquires 356,665 Shares of Ingersoll Rand Inc. (NYSE:IR)

International Assets Investment Management LLC increased its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 9,681.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,349 shares of the industrial products company's stock after purchasing an additional 356,665 shares during the period. International Assets Investment Management LLC owned approximately 0.09% of Ingersoll Rand worth $353,720,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IR. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand in the second quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in Ingersoll Rand during the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Ingersoll Rand during the 1st quarter worth $35,000. EverSource Wealth Advisors LLC grew its stake in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock worth $42,000 after acquiring an additional 126 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 196.8% in the second 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. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Price Performance

Shares of IR stock traded up $0.16 during trading hours on Friday, hitting $96.09. The stock had a trading volume of 1,904,946 shares, compared to its average volume of 2,540,480. The stock's 50-day moving average price is $94.68 and its two-hundred day moving average price is $93.31. Ingersoll Rand Inc. has a one year low of $59.20 and a one year high of $102.74. The stock has a market capitalization of $38.77 billion, a price-to-earnings ratio of 47.86, a PEG ratio of 2.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.78 billion. Equities analysts forecast that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm 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 of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand's dividend payout ratio (DPR) is presently 3.98%.

Insider Activity

In other news, insider Andrew R. Schiesl sold 15,381 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company's stock, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the transaction, the insider now directly owns 6,559 shares of the company's stock, valued at approximately $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IR has been the topic of several analyst reports. Evercore ISI cut their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Cfra upped their target price on Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a report on Friday, October 4th. Morgan Stanley began coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an "equal weight" rating and a $97.00 target price on the stock. Robert W. Baird increased their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.17.

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.