Ashton Thomas Securities LLC Purchases New Shares in Ingersoll Rand Inc. (NYSE:IR)

Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand Inc. (NYSE:IR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 349 shares of the industrial products company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IR. Los Angeles Capital Management LLC bought a new position in shares of Ingersoll Rand during the third quarter valued at approximately $201,000. Crossmark Global Holdings Inc. grew its stake in shares of Ingersoll Rand by 4.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 24,682 shares of the industrial products company’s stock worth $2,423,000 after buying an additional 1,118 shares during the last quarter. Sigma Planning Corp increased its position in Ingersoll Rand by 11.2% during the 3rd quarter. Sigma Planning Corp now owns 12,363 shares of the industrial products company’s stock valued at $1,214,000 after buying an additional 1,249 shares in the last quarter. Arrow Financial Corp raised its stake in Ingersoll Rand by 2.1% during the third quarter. Arrow Financial Corp now owns 32,194 shares of the industrial products company’s stock valued at $3,160,000 after buying an additional 676 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of Ingersoll Rand by 18.5% in the third quarter. Atria Investments Inc now owns 13,381 shares of the industrial products company’s stock worth $1,313,000 after acquiring an additional 2,087 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

NYSE IR opened at $102.99 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $41.51 billion, a P/E ratio of 50.90, a PEG ratio of 3.96 and a beta of 1.42. The company has a 50-day moving average price of $97.21 and a 200-day moving average price of $94.11. Ingersoll Rand Inc. has a 52 week low of $69.29 and a 52 week high of $105.63.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IR. Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Robert W. Baird decreased their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. UBS Group started coverage on shares of Ingersoll Rand in a report on Wednesday. They set a “buy” rating and a $124.00 price target on the stock. Stifel Nicolaus upped their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.25.

Insider Activity

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 in the company, valued at approximately $344,571.71. The trade was a 54.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,660 shares of company stock valued at $1,348,834 in the last 90 days. Company insiders own 0.68% of the company’s stock.

About Ingersoll Rand

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.