Raymond James Trust N.A. Acquires 462 Shares of Ingersoll Rand Inc. (NYSE:IR)

Raymond James Trust N.A. increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,511 shares of the industrial products company’s stock after acquiring an additional 462 shares during the period. Raymond James Trust N.A.’s holdings in Ingersoll Rand were worth $1,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in shares of Ingersoll Rand in the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand in the third quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares in the last quarter. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 309 shares during the last quarter. Finally, Eastern Bank bought a new position in Ingersoll Rand in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IR. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Cfra increased their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has a consensus rating of “Moderate Buy” and an average price target of $103.83.

Ingersoll Rand Stock Performance

Shares of NYSE IR opened at $104.00 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63. The firm has a market capitalization of $41.91 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 3.91 and a beta of 1.42. The firm has a 50 day moving average of $99.20 and a 200 day moving average of $94.68.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued 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 yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s 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 in the company, valued at $1,160,510.40. This represents 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. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction 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 sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

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.