Weiss Asset Management LP Buys Shares of 15,972 Ingersoll Rand Inc. (NYSE:IR)

Weiss Asset Management LP bought a new stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,972 shares of the industrial products company's stock, valued at approximately $1,568,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Ingersoll Rand by 0.7% in the 3rd quarter. State Street Corp now owns 15,776,908 shares of the industrial products company's stock worth $1,548,661,000 after buying an additional 112,824 shares during the last quarter. Stifel Financial Corp grew its holdings in Ingersoll Rand by 21.1% in the third quarter. Stifel Financial Corp now owns 142,232 shares of the industrial products company's stock worth $13,962,000 after purchasing an additional 24,792 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Ingersoll Rand by 48.0% during the third quarter. Quantinno Capital Management LP now owns 16,391 shares of the industrial products company's stock worth $1,609,000 after purchasing an additional 5,317 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Ingersoll Rand by 1.8% during the third quarter. Royal London Asset Management Ltd. now owns 249,721 shares of the industrial products company's stock worth $24,513,000 after purchasing an additional 4,391 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its holdings in shares of Ingersoll Rand by 50.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 13,398 shares of the industrial products company's stock valued at $1,315,000 after purchasing an additional 4,500 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company's stock, valued at approximately $1,160,510.40. This trade represents a 17.53 % 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. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $0.68 on Friday, hitting $102.28. The company had a trading volume of 1,557,218 shares, compared to its average volume of 1,827,979. The firm has a market cap of $41.22 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. Ingersoll Rand Inc. has a twelve month low of $71.54 and a twelve month high of $106.03. The company has a 50-day moving average price of $100.86 and a 200-day moving average price of $95.52. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors 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 (DPR) is presently 3.90%.

Analysts Set New Price Targets

Several research analysts recently issued reports on IR shares. Wolfe Research raised Ingersoll Rand to a "hold" rating in a research report on Friday, September 20th. UBS Group assumed coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They set a "buy" rating and a $124.00 price objective on the stock. Barclays lifted their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an "equal weight" rating and a $97.00 price target on the stock. Finally, Evercore ISI lowered 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $105.08.

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.