Centiva Capital LP Makes New $328,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Centiva Capital LP acquired a new position in Ingersoll Rand Inc. (NYSE:IR) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 3,338 shares of the industrial products company’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. grew its holdings in shares of Ingersoll Rand by 7.9% during the 2nd quarter. QRG Capital Management Inc. now owns 5,872 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 429 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Ingersoll Rand by 10.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,489 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 426 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Ingersoll Rand by 11.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,327 shares of the industrial products company’s stock worth $1,483,000 after acquiring an additional 1,697 shares during the last quarter. ORG Partners LLC bought a new stake in Ingersoll Rand during the 2nd quarter worth approximately $81,000. Finally, PGGM Investments grew its holdings in Ingersoll Rand by 9.3% during the 2nd quarter. PGGM Investments now owns 28,586 shares of the industrial products company’s stock worth $2,597,000 after acquiring an additional 2,439 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their target price for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Barclays upped their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup upped their price objective on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley began 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 objective on the stock. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus target price of $105.67.

Ingersoll Rand Stock Performance

IR opened at $101.82 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $100.94 and its two-hundred day moving average price is $95.56. Ingersoll Rand Inc. has a 1-year low of $73.38 and a 1-year high of $106.03. The company has a market cap of $41.03 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.90%.

Insiders Place Their Bets

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction dated Tuesday, November 5th. The shares were 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 $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Company 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.