Czech National Bank grew its position in shares of Ingersoll Rand Inc. (NYSE:IR – Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,680 shares of the industrial products company’s stock after purchasing an additional 283 shares during the period. Czech National Bank’s holdings in Ingersoll Rand were worth $2,774,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Compass Wealth Management LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $32,000. CoreCap Advisors LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $41,000. CI Investments Inc. raised its stake in shares of Ingersoll Rand by 103.1% during the third quarter. CI Investments Inc. now owns 971 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 493 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Ingersoll Rand during the fourth quarter valued at approximately $54,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Ingersoll Rand during the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Ingersoll Rand Stock Performance
Shares of IR opened at $63.68 on Thursday. Ingersoll Rand Inc. has a 1 year low of $39.28 and a 1 year high of $65.24. The company has a market cap of $25.76 billion, a price-to-earnings ratio of 39.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.50 and a current ratio of 2.16. The firm has a fifty day moving average of $59.79 and a 200-day moving average of $57.11.
Ingersoll Rand Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Wednesday, May 24th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Tuesday, May 23rd. Ingersoll Rand’s dividend payout ratio is currently 4.94%.
Insider Activity at Ingersoll Rand
In related news, insider Kathleen M. Keene sold 4,003 shares of Ingersoll Rand stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $62.50, for a total transaction of $250,187.50. Following the sale, the insider now directly owns 1,879 shares in the company, valued at $117,437.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ingersoll Rand news, insider Gary E. Gillespie sold 27,487 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $60.73, for a total value of $1,669,285.51. Following the sale, the insider now directly owns 42,234 shares in the company, valued at $2,564,870.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen M. Keene sold 4,003 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $62.50, for a total transaction of $250,187.50. Following the completion of the sale, the insider now owns 1,879 shares in the company, valued at $117,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 58,659 shares of company stock worth $3,685,458 over the last ninety days. 0.83% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
IR has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Ingersoll Rand from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ingersoll Rand from $55.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Barclays raised their price target on shares of Ingersoll Rand from $64.00 to $65.00 in a research report on Friday, May 5th. Wells Fargo & Company decreased their price target on shares of Ingersoll Rand from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, April 13th. Finally, Stifel Nicolaus raised their price target on shares of Ingersoll Rand from $60.00 to $61.00 and gave the stock a “hold” rating in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.40.
Ingersoll Rand Company Profile
Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.
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