Edgestream Partners L.P. Has $1.67 Million Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Edgestream Partners L.P. boosted its stake in Ingersoll Rand Inc. (NYSE:IR) by 99.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,031 shares of the industrial products company’s stock after purchasing an additional 8,496 shares during the quarter. Edgestream Partners L.P.’s holdings in Ingersoll Rand were worth $1,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in shares of 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 buying an additional 1,538,056 shares during the last quarter. Fisher Asset Management LLC raised its position in Ingersoll Rand by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,744,839 shares of the industrial products company’s stock valued at $662,074,000 after purchasing an additional 114,727 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ingersoll Rand by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock worth $314,549,000 after purchasing an additional 224,463 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ingersoll Rand by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock valued at $216,763,000 after buying an additional 21,289 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Ingersoll Rand by 20.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after buying an additional 250,712 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on IR. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and cut their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price objective on the stock. Finally, Robert W. Baird decreased their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Ingersoll Rand Price Performance

Shares of NYSE IR opened at $104.26 on Wednesday. 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 firm’s 50-day simple moving average is $100.46 and its 200 day simple moving average is $95.35. The stock has a market cap of $42.02 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 3.99 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $71.21 and a fifty-two week high of $106.03.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s payout ratio is presently 3.90%.

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.