Kanawha Capital Management LLC Raises Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Kanawha Capital Management LLC grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,096 shares of the industrial products company’s stock after acquiring an additional 119 shares during the quarter. Kanawha Capital Management LLC’s holdings in Ingersoll Rand were worth $500,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wealthspire Advisors LLC lifted its holdings in Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after acquiring an additional 119 shares during the period. Opal Wealth Advisors LLC lifted its stake in shares of Ingersoll Rand by 6.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 121 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after buying an additional 126 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after buying an additional 133 shares during the period. Finally, Asio Capital LLC increased its holdings in Ingersoll Rand by 0.3% during the third quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company’s stock valued at $4,327,000 after buying an additional 133 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IR. Stifel Nicolaus boosted their price objective 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. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Robert W. Baird decreased their price objective on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday. Wells Fargo & Company boosted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.67.

Insider Buying and Selling at Ingersoll Rand

In other news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % 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. In other news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated 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 directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by corporate insiders.

Ingersoll Rand Stock Performance

IR opened at $94.61 on Tuesday. The stock has a market capitalization of $38.17 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 2.63 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $64.60 and a fifty-two week high of $102.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company has a fifty day moving average of $95.40 and a 200 day moving average of $93.54.

Ingersoll Rand Dividend Announcement

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

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.