AdvisorNet Financial Inc Increases Stock Position in Ingersoll Rand Inc. (NYSE:IR)

AdvisorNet Financial Inc boosted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 441.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,652 shares of the industrial products company’s stock after buying an additional 15,207 shares during the quarter. AdvisorNet Financial Inc’s holdings in Ingersoll Rand were worth $1,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IR. JPMorgan Chase & Co. lifted its position in shares of Ingersoll Rand by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company’s stock valued at $1,789,376,000 after buying an additional 1,462,538 shares in the last quarter. FMR LLC raised its position in Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after acquiring an additional 1,538,056 shares during the period. State Street Corp lifted its holdings in Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company’s stock valued at $1,548,661,000 after purchasing an additional 112,824 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Ingersoll Rand by 2.5% in the third quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company’s stock valued at $1,207,554,000 after purchasing an additional 278,710 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Ingersoll Rand by 0.6% during the third quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock worth $923,087,000 after purchasing an additional 54,952 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

NYSE:IR opened at $89.40 on Wednesday. The company’s 50-day moving average is $98.07 and its two-hundred day moving average is $95.74. Ingersoll Rand Inc. has a 1-year low of $76.64 and a 1-year high of $106.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a market capitalization of $36.03 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid 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, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IR shares. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. UBS Group initiated coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Finally, Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.50.

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.