Ballentine Partners LLC Has $1.27 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Ballentine Partners LLC raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,884 shares of the industrial products company’s stock after purchasing an additional 290 shares during the quarter. Ballentine Partners LLC’s holdings in Ingersoll Rand were worth $1,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IR. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Ingersoll Rand in the first quarter valued at approximately $28,000. ESL Trust Services LLC bought a new position in shares of Ingersoll Rand during the first quarter worth approximately $35,000. Eastern Bank acquired a new stake in Ingersoll Rand during the 3rd quarter worth approximately $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake 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 during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Performance

Ingersoll Rand stock opened at $96.09 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock has a market cap of $38.77 billion, a PE ratio of 47.81, a P/E/G ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $102.74. The business’s 50-day moving average price is $94.68 and its two-hundred day moving average price is $93.31.

Ingersoll Rand (NYSE:IR) 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. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts expect that Ingersoll Rand Inc. will post 3.22 earnings per share for the current fiscal 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. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of research reports. 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. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted 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. Cfra increased their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.17.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the transaction, the insider now 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 accessible through the SEC website. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. This represents 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 quarter. 0.68% of the stock is owned by insiders.

Ingersoll Rand 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.