FSM Wealth Advisors LLC Takes Position in Ingersoll Rand Inc. (NYSE:IR)

FSM Wealth Advisors LLC purchased a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,308 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other hedge funds have also modified their holdings of the business. Wealthspire Advisors LLC lifted its holdings in shares of Ingersoll Rand by 5.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after buying an additional 119 shares during the period. Kanawha Capital Management LLC raised its holdings in Ingersoll Rand by 2.4% during the third quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 119 shares during the last quarter. Opal Wealth Advisors LLC raised its holdings in Ingersoll Rand by 6.0% during the third 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 last quarter. EverSource Wealth Advisors LLC raised its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings 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 worth $300,000 after purchasing an additional 133 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IR has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Evercore ISI reduced their price objective on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Stifel Nicolaus raised their price target on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.67.

Insider Activity

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was 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 this hyperlink. In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. The trade was 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 this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock valued at $7,108,005 over the last quarter. Company insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $97.70 on Wednesday. The company has a market cap of $39.42 billion, a P/E ratio of 47.66, a P/E/G ratio of 2.57 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52 week low of $64.60 and a 52 week high of $102.74. The business has a fifty day simple moving average of $95.54 and a 200-day simple moving average of $93.61.

Ingersoll Rand Announces Dividend

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

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.