Douglas Lane & Associates LLC grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 889,140 shares of the industrial products company’s stock after acquiring an additional 63,781 shares during the period. Douglas Lane & Associates LLC owned about 0.21% of Ingersoll Rand worth $40,509,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in IR. Paces Ferry Wealth Advisors LLC purchased a new stake in shares of Ingersoll Rand during the third quarter worth approximately $28,000. Hall Laurie J Trustee purchased a new stake in Ingersoll Rand in the 3rd quarter valued at approximately $38,000. Jeppson Wealth Management LLC purchased a new stake in shares of Ingersoll Rand during the 3rd quarter worth $38,000. Vigilant Capital Management LLC purchased a new stake in Ingersoll Rand during the third quarter worth about $44,000. Finally, Private Advisor Group LLC acquired a new position in Ingersoll Rand during the second quarter worth $57,000. Institutional investors and hedge funds own 84.14% of the company’s stock.
Shares of NYSE:IR traded up $0.08 on Thursday, reaching $46.16. 13,343 shares of the company’s stock were exchanged, compared to its average volume of 1,526,189. Ingersoll Rand Inc. has a twelve month low of $17.01 and a twelve month high of $47.78. The company has a fifty day moving average of $45.27 and a 200-day moving average of $37.83. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of -124.54 and a beta of 1.53. The company has a current ratio of 2.43, a quick ratio of 1.72 and a debt-to-equity ratio of 0.43.
In other news, insider Vicente Reynal sold 30,000 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $40.00, for a total value of $1,200,000.00. Following the completion of the transaction, the insider now owns 230,018 shares of the company’s stock, valued at $9,200,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viseras Enrique Minarro sold 54,429 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $42.47, for a total transaction of $2,311,599.63. Following the completion of the transaction, the insider now directly owns 70,490 shares of the company’s stock, valued at approximately $2,993,710.30. The disclosure for this sale can be found here. Insiders have sold 126,686 shares of company stock valued at $5,399,155 in the last ninety days. 0.70% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on IR. Zacks Investment Research raised Ingersoll Rand from a “sell” rating to a “hold” rating and set a $39.00 price objective on the stock in a research note on Thursday, October 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Ingersoll Rand from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $53.00 in a report on Monday, December 14th. Deutsche Bank Aktiengesellschaft increased their price target on Ingersoll Rand from $36.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, November 4th. Smith Barney Citigroup upgraded Ingersoll Rand from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $53.00 in a research note on Monday, December 14th. Finally, Robert W. Baird increased their target price on Ingersoll Rand from $47.00 to $58.00 in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.26.
Ingersoll Rand Company Profile
Ingersoll Rand Inc provides mission-critical flow control and compression equipment, and associated aftermarket parts, consumables, and services in the United States, Europe, the Middle East, Africa, and the Asia Pacific. It operates through three segments: Industrials, Energy, and Medical. The Industrials segment designs, manufactures, markets, and services a range of air compression, vacuum, and blower products, as well as offers associated aftermarket parts, consumables, and services.
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