Peddock Capital Advisors LLC Invests $213,000 in Ingersoll Rand Inc. (NYSE:IR)

Peddock Capital Advisors LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,172 shares of the industrial products company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand in the 4th quarter worth approximately $28,000. Headlands Technologies LLC acquired a new position in Ingersoll Rand during the 1st quarter worth $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand during the 1st quarter worth $29,000. Finally, Scarborough Advisors LLC acquired a new position in Ingersoll Rand during the 4th quarter worth $32,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on IR. Jefferies Financial Group began coverage on Ingersoll Rand in a report on Friday, June 21st. They set a “buy” rating and a $110.00 price objective on the stock. Robert W. Baird upped their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Cfra upped 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. Stifel Nicolaus upped their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Ingersoll Rand Trading Up 0.3 %

Shares of IR traded up $0.34 during trading hours on Wednesday, reaching $99.21. The stock had a trading volume of 245,956 shares, compared to its average volume of 2,578,669. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $101.41. The firm has a 50-day moving average of $92.44 and a 200 day moving average of $92.84. The company has a market cap of $40.02 billion, a P/E ratio of 49.19, a P/E/G ratio of 2.75 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, sell-side analysts expect that Ingersoll Rand Inc. will post 3.21 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the transaction, the insider now owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Corporate 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.