1,371 Shares in Ingersoll Rand Inc. (NYSE:IR) Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC acquired a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,371 shares of the industrial products company’s stock, valued at approximately $125,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the second quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand in the first quarter valued at about $28,000. Riverview Trust Co bought a new stake in shares of Ingersoll Rand in the first quarter valued at about $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Ingersoll Rand in the fourth quarter valued at about $28,000. Finally, ESL Trust Services LLC bought a new stake in shares of Ingersoll Rand in the first quarter valued at about $35,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Ingersoll Rand Price Performance

NYSE:IR opened at $91.03 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $92.42 and its two-hundred day moving average price is $92.12. The firm has a market capitalization of $36.73 billion, a price-to-earnings ratio of 45.29, a P/E/G ratio of 2.53 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $59.20 and a 12-month high of $101.30.

Ingersoll Rand (NYSE:IR) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, analysts anticipate that Ingersoll Rand Inc. will post 3.21 earnings per share for the current year.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IR. Morgan Stanley began coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Wells Fargo & Company dropped their target price on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays dropped their target price on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Robert W. Baird upped their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

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.