BNC Wealth Management LLC Has $2.48 Million Stake in Ingersoll Rand Inc. (NYSE:IR)

BNC Wealth Management LLC lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,422 shares of the industrial products company’s stock after purchasing an additional 2,676 shares during the quarter. BNC Wealth Management LLC’s holdings in Ingersoll Rand were worth $2,481,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand in the 3rd quarter valued at $34,000. Eastern Bank bought a new position in Ingersoll Rand in the 3rd quarter valued at $42,000. Kimelman & Baird LLC bought a new position in Ingersoll Rand in the 2nd quarter valued at $57,000. Versant Capital Management Inc grew its stake in Ingersoll Rand by 654.4% in the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Ingersoll Rand in the 3rd quarter valued at $65,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on IR. Citigroup dropped their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group began coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price target on the stock. The Goldman Sachs Group upped their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird dropped their price target 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, Wells Fargo & Company dropped their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.50.

Ingersoll Rand Price Performance

IR opened at $91.90 on Friday. The stock’s 50 day simple moving average is $97.35 and its 200 day simple moving average is $95.69. 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 1 year low of $77.16 and a 1 year high of $106.03. The firm has a market cap of $37.04 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 3.17 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

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.