Signature Estate & Investment Advisors LLC Makes New $267,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Signature Estate & Investment Advisors LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,723 shares of the industrial products company’s stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand in the first quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand in the third quarter valued at $34,000. EverSource Wealth Advisors LLC raised its stake in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of 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 acquiring an additional 309 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 53.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,660 shares of company stock worth $1,348,834. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IR shares. Cfra raised their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. UBS Group assumed coverage on shares of Ingersoll Rand in a research report on Wednesday. They set a “buy” rating and a $124.00 price objective for the company. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Barclays boosted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.25.

Ingersoll Rand Stock Down 0.5 %

Ingersoll Rand stock opened at $102.43 on Friday. The stock has a market capitalization of $41.28 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.96 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $97.83 and a two-hundred day moving average of $94.24. Ingersoll Rand Inc. has a twelve month low of $69.46 and a twelve month high of $105.63.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s payout ratio is currently 3.90%.

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.