Harbour Investments Inc. Boosts Stock Holdings in Ingersoll Rand Inc. (NYSE:IR)

Harbour Investments Inc. lifted its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,310 shares of the industrial products company’s stock after buying an additional 319 shares during the quarter. Harbour Investments Inc.’s holdings in Ingersoll Rand were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ridgewood Investments LLC bought a new stake in shares of Ingersoll Rand during the second quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in Ingersoll Rand during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares in the last quarter. UMB Bank n.a. boosted its holdings in Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the period. Finally, Eastern Bank purchased a new position in shares of Ingersoll Rand during the 3rd quarter valued at $42,000. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $102.43 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand Inc. has a one year low of $69.46 and a one year high of $105.63. The business’s 50 day simple moving average is $97.83 and its two-hundred day simple moving average is $94.25. The stock has a market capitalization of $41.28 billion, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the transaction, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. This represents a 53.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,660 shares of company stock valued at $1,348,834 in the last quarter. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IR. Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Barclays raised their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley started coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Finally, Evercore ISI lowered their price objective on shares of 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.25.

Ingersoll Rand 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.