Greenleaf Trust grew its stake in shares of Ingersoll Rand Inc. (NYSE:IR – Get Rating) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,762 shares of the industrial products company’s stock after purchasing an additional 262 shares during the quarter. Greenleaf Trust’s holdings in Ingersoll Rand were worth $301,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in IR. Bessemer Group Inc. boosted its position in Ingersoll Rand by 2.3% in the 3rd quarter. Bessemer Group Inc. now owns 10,247 shares of the industrial products company’s stock worth $444,000 after purchasing an additional 234 shares in the last quarter. Alta Advisers Ltd acquired a new stake in shares of Ingersoll Rand in the 3rd quarter worth $65,000. Nisa Investment Advisors LLC increased its stake in shares of Ingersoll Rand by 1.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 103,023 shares of the industrial products company’s stock worth $4,471,000 after acquiring an additional 1,480 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ingersoll Rand in the 3rd quarter worth $1,291,000. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Ingersoll Rand by 0.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,061 shares of the industrial products company’s stock worth $998,000 after acquiring an additional 183 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
Ingersoll Rand Stock Performance
NYSE IR opened at $54.46 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.37 and a quick ratio of 1.76. Ingersoll Rand Inc. has a 1-year low of $39.28 and a 1-year high of $60.39. The firm has a market capitalization of $22.05 billion, a P/E ratio of 36.80 and a beta of 1.42. The business’s 50-day simple moving average is $56.59 and its 200-day simple moving average is $53.21.
Ingersoll Rand Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Wednesday, March 1st were given a dividend of $0.02 per share. The ex-dividend date was Tuesday, February 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Ingersoll Rand’s dividend payout ratio (DPR) is 5.41%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on IR. Stifel Nicolaus raised their target price on Ingersoll Rand from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, January 20th. Robert W. Baird raised their target price on Ingersoll Rand from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. Barclays increased their price target on Ingersoll Rand from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Morgan Stanley increased their price target on Ingersoll Rand from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Ingersoll Rand from $53.00 to $55.00 in a report on Wednesday, February 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.
Insider Buying and Selling
In related news, CAO Michael J. Scheske sold 1,742 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $57.00, for a total transaction of $99,294.00. Following the completion of the sale, the chief accounting officer now directly owns 7,112 shares of the company’s stock, valued at approximately $405,384. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Ingersoll Rand news, insider Vicente Reynal sold 25,000 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $60.00, for a total value of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 102,856 shares of the company’s stock, valued at approximately $6,171,360. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael J. Scheske sold 1,742 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $57.00, for a total transaction of $99,294.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,112 shares of the company’s stock, valued at $405,384. The disclosure for this sale can be found here. In the last three months, insiders sold 51,742 shares of company stock valued at $3,036,794. Company insiders own 0.75% of the company’s stock.
About Ingersoll Rand
Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.
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