Exchange Traded Concepts LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Exchange Traded Concepts LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 2,495 shares of the industrial products company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ingersoll Rand by 24.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,450 shares of the industrial products company’s stock worth $46,948,000 after purchasing an additional 96,982 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Ingersoll Rand in the 1st quarter worth approximately $1,221,000. Swedbank AB lifted its stake in Ingersoll Rand by 34.0% in the 2nd quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock worth $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Ingersoll Rand during the 1st quarter valued at $889,000. Finally, Empowered Funds LLC raised its position in shares of Ingersoll Rand by 1,077.0% during the 1st quarter. Empowered Funds LLC now owns 49,483 shares of the industrial products company’s stock valued at $4,698,000 after buying an additional 45,279 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Cfra raised their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Barclays raised their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Evercore ISI lowered their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.17.

Ingersoll Rand Price Performance

IR stock opened at $100.40 on Monday. The firm has a market cap of $40.50 billion, a P/E ratio of 49.95, a P/E/G ratio of 2.72 and a beta of 1.42. Ingersoll Rand Inc. has a 52 week low of $59.20 and a 52 week high of $102.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The firm’s fifty day moving average is $94.09 and its 200 day moving average is $93.19.

Ingersoll Rand (NYSE:IR) last announced its quarterly 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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Research analysts predict that Ingersoll Rand Inc. will post 3.22 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend 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 Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. 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. In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew R. Schiesl sold 15,381 shares of Ingersoll Rand stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock valued at $7,108,005 in the last quarter. Insiders own 0.68% of the company’s stock.

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.