Vivid Wealth Management LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Vivid Wealth Management LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,257 shares of the industrial products company's stock, valued at approximately $2,185,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Ingersoll Rand in the second quarter valued at $25,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand during the first quarter valued at $28,000. ESL Trust Services LLC acquired a new position in shares of Ingersoll Rand during the first quarter valued at $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 38.5% during the first 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 during the period. Finally, UMB Bank n.a. increased its holdings in shares of Ingersoll Rand by 196.8% during 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 period. 95.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IR. Cfra raised their price target on Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a report on Friday, October 4th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Robert W. Baird lifted their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Evercore ISI lowered their target price on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Finally, Wolfe Research raised Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.17.

Ingersoll Rand Stock Up 1.0 %

NYSE IR traded up $0.99 during trading on Monday, reaching $97.11. 2,803,242 shares of the company's stock were exchanged, compared to its average volume of 2,541,743. Ingersoll Rand Inc. has a fifty-two week low of $59.51 and a fifty-two week high of $102.74. The firm has a market capitalization of $39.18 billion, a PE ratio of 47.82, a P/E/G ratio of 2.69 and a beta of 1.42. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The company's fifty day simple moving average is $94.78 and its 200-day simple moving average is $93.33.

Ingersoll Rand (NYSE:IR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Sell-side analysts predict that Ingersoll Rand Inc. will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 dividend yield of 0.08%. Ingersoll Rand's dividend payout ratio is 3.98%.

Insider Activity

In related 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 transaction, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares in the company, valued at $599,623.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 in the last three months. 0.68% of the stock is owned by insiders.

Ingersoll Rand Company 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.