24,746 Shares in Ingersoll Rand Inc. (NYSE:IR) Acquired by BNC Wealth Management LLC

BNC Wealth Management LLC bought a new position in Ingersoll Rand Inc. (NYSE:IR) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,746 shares of the industrial products company’s stock, valued at approximately $2,429,000.

Other hedge funds have also added to or reduced their stakes in the company. Consilium Wealth Advisory LLC grew its position in shares of Ingersoll Rand by 25.5% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 18,066 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 3,666 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Ingersoll Rand by 41.1% in the third quarter. Concurrent Investment Advisors LLC now owns 3,475 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 1,012 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Ingersoll Rand by 13.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,938 shares of the industrial products company’s stock valued at $1,074,000 after purchasing an additional 1,283 shares during the period. Marks Group Wealth Management Inc lifted its stake in shares of Ingersoll Rand by 2.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 92,798 shares of the industrial products company’s stock valued at $9,109,000 after buying an additional 2,258 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Ingersoll Rand by 3.5% in the 3rd quarter. Amalgamated Bank now owns 84,480 shares of the industrial products company’s stock worth $8,293,000 after buying an additional 2,833 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on IR shares. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 target price for the company. Barclays lifted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus raised 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 equities research 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 target price of $101.67.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $102.98 on Thursday. The business has a 50-day simple moving average of $95.81 and a two-hundred day simple moving average of $93.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The company has a market cap of $41.50 billion, a PE ratio of 50.23, a P/E/G ratio of 2.59 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $64.60 and a fifty-two week high of $103.25.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.02 dividend. 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 (DPR) is currently 3.90%.

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now owns 6,559 shares in the company, valued at approximately $599,623.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,129 shares of company stock valued at $5,727,714 in the last quarter. 0.68% of the stock is currently owned by company insiders.

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.