FORA Capital LLC Makes New $2.15 Million Investment in Ingersoll Rand Inc. (NYSE:IR)

FORA Capital LLC acquired a new stake in Ingersoll Rand Inc. (NYSE:IR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,855 shares of the industrial products company’s stock, valued at approximately $2,145,000.

Several other large investors have also recently added to or reduced their stakes in IR. Ridgewood Investments LLC purchased a new position in shares of Ingersoll Rand in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand in the third quarter worth approximately $34,000. Eastern Bank acquired a new position in Ingersoll Rand during the 3rd quarter worth approximately $42,000. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 126 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of 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 in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

NYSE IR opened at $104.05 on Thursday. The firm has a market cap of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $106.03. The business’s 50-day moving average price is $99.91 and its 200 day moving average price is $94.97. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Announces Dividend

The business 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. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on Ingersoll Rand in a report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. UBS Group started coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective for the company. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Evercore ISI reduced their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Wolfe Research upgraded 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’s stock. According to MarketBeat.com, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s 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 trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is currently owned by 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.