Massachusetts Wealth Management Buys 250 Shares of Ingersoll Rand Inc. (NYSE:IR)

Massachusetts Wealth Management raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,243 shares of the industrial products company’s stock after acquiring an additional 250 shares during the period. Ingersoll Rand comprises 1.7% of Massachusetts Wealth Management’s holdings, making the stock its 15th biggest holding. Massachusetts Wealth Management’s holdings in Ingersoll Rand were worth $2,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IR. Lake Street Advisors Group LLC acquired a new position in shares of Ingersoll Rand in the third quarter worth approximately $209,000. Ballentine Partners LLC lifted its stake in shares of Ingersoll Rand by 2.3% in the third quarter. Ballentine Partners LLC now owns 12,884 shares of the industrial products company’s stock worth $1,265,000 after acquiring an additional 290 shares during the period. Moody Lynn & Lieberson LLC acquired a new position in shares of Ingersoll Rand in the third quarter worth approximately $215,000. Dakota Wealth Management lifted its stake in shares of Ingersoll Rand by 39.0% in the third quarter. Dakota Wealth Management now owns 45,515 shares of the industrial products company’s stock worth $4,468,000 after acquiring an additional 12,764 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ingersoll Rand by 13.1% in the third quarter. Assenagon Asset Management S.A. now owns 14,964 shares of the industrial products company’s stock worth $1,469,000 after acquiring an additional 1,732 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the sale, the insider now directly owns 3,829 shares in the company, valued at $344,571.71. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,510 shares of company stock valued at $7,108,005 in the last 90 days. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cfra lifted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Barclays boosted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Evercore ISI dropped their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Stifel Nicolaus boosted their price target on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and an average target price of $102.17.

Ingersoll Rand Stock Performance

NYSE:IR traded up $0.89 during trading on Friday, reaching $96.82. The company’s stock had a trading volume of 446,635 shares, compared to its average volume of 2,533,435. The firm has a market cap of $39.06 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The firm has a 50 day moving average of $94.60 and a 200-day moving average of $93.29. Ingersoll Rand Inc. has a 12 month low of $59.20 and a 12 month high of $102.74.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. Research analysts expect that Ingersoll Rand Inc. will post 3.22 EPS for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

About Ingersoll Rand

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.