Ingersoll Rand (NYSE:IR) Hits New 52-Week High – Here’s What Happened

Ingersoll Rand Inc. (NYSE:IR) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $105.63 and last traded at $105.44, with a volume of 89955 shares trading hands. The stock had previously closed at $104.80.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IR. Stifel Nicolaus raised their target price on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted 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, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

Ingersoll Rand Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The business has a 50-day simple moving average of $96.56 and a 200-day simple moving average of $93.96. The firm has a market capitalization of $42.08 billion, a PE ratio of 51.30, a P/E/G ratio of 3.90 and a beta of 1.42.

Ingersoll Rand Announces Dividend

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

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at approximately $9,284,951.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,660 shares of company stock valued at $5,974,334 in the last three months. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand in the 1st quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand in the 3rd quarter valued at $34,000. ESL Trust Services LLC purchased a new position in shares of Ingersoll Rand during the 1st quarter worth $35,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

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.