Dakota Wealth Management Increases Position in Ingersoll Rand Inc. (NYSE:IR)

Dakota Wealth Management grew its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 39.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 45,515 shares of the industrial products company's stock after buying an additional 12,764 shares during the period. Dakota Wealth Management's holdings in Ingersoll Rand were worth $4,468,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IR. Ridgewood Investments LLC purchased a new position in Ingersoll Rand during the 2nd quarter worth $25,000. Headlands Technologies LLC acquired a new stake in Ingersoll Rand in the first quarter valued at about $28,000. ESL Trust Services LLC acquired a new stake in Ingersoll Rand in the first quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its holdings in Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 126 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock worth $42,000 after purchasing an additional 309 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now directly owns 100,367 shares of the company's stock, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Vicente Reynal sold 50,000 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the completion of the transaction, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

NYSE:IR traded up $0.19 during trading hours on Friday, reaching $96.12. 1,904,946 shares of the company traded hands, compared to its average volume of 2,229,056. Ingersoll Rand Inc. has a 1-year low of $59.20 and a 1-year high of $102.74. The stock has a market cap of $38.78 billion, a P/E ratio of 47.58, a P/E/G ratio of 2.69 and a beta of 1.42. The firm's 50-day moving average is $94.78 and its 200-day moving average is $93.33. 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 released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Equities research analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand's dividend payout ratio is currently 3.96%.

Analysts Set New Price Targets

IR has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Stifel Nicolaus raised their target price on Ingersoll Rand from $101.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price objective for the company. Finally, Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand presently 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.