HighTower Advisors LLC Acquires 51,911 Shares of Ingersoll Rand Inc. (NYSE:IR)

HighTower Advisors LLC lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 171.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,128 shares of the industrial products company’s stock after buying an additional 51,911 shares during the period. HighTower Advisors LLC’s holdings in Ingersoll Rand were worth $8,059,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Centiva Capital LP purchased a new stake in Ingersoll Rand during the 3rd quarter valued at $328,000. Benjamin Edwards Inc. bought a new stake in shares of Ingersoll Rand in the third quarter worth $1,133,000. Erste Asset Management GmbH purchased a new stake in Ingersoll Rand during the third quarter valued at $424,000. Edgestream Partners L.P. lifted its holdings in Ingersoll Rand by 99.5% in the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company’s stock valued at $1,672,000 after acquiring an additional 8,496 shares during the period. Finally, Verition Fund Management LLC boosted its position in Ingersoll Rand by 108.2% in the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company’s stock worth $724,000 after purchasing an additional 3,834 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Insider Buying and Selling

In other Ingersoll Rand 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 value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Down 0.7 %

Shares of IR opened at $102.28 on Monday. Ingersoll Rand Inc. has a 12-month low of $71.54 and a 12-month high of $106.03. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $41.22 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. The business’s 50 day moving average is $100.86 and its 200 day moving average is $95.51.

Ingersoll Rand Dividend Announcement

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

Wall Street Analyst Weigh In

IR has been the topic of several recent research reports. Cfra increased their price objective on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective for the company. Finally, Evercore ISI lowered their target price on 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.08.

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.