Brooklyn Investment Group Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Brooklyn Investment Group acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,688 shares of the industrial products company’s stock, valued at approximately $166,000.

Several other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings in shares of Ingersoll Rand by 10.5% in the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock valued at $1,585,489,000 after buying an additional 1,538,056 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Ingersoll Rand by 4.7% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 21,005 shares of the industrial products company’s stock valued at $2,062,000 after buying an additional 946 shares during the period. DRW Securities LLC acquired a new stake in shares of Ingersoll Rand in the third quarter valued at $543,000. Fisher Asset Management LLC lifted its holdings in shares of Ingersoll Rand by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after buying an additional 114,727 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock worth $8,916,000 after purchasing an additional 7,784 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IR shares. Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price on the stock. Cfra boosted 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. Wells Fargo & Company boosted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $104.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $106.03. The stock’s 50-day moving average is $99.91 and its two-hundred day moving average is $94.97. The firm has a market cap of $41.93 billion, a P/E ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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