Princeton Global Asset Management LLC Makes New Investment in Ingersoll Rand Inc. (NYSE:IR)

Princeton Global Asset Management LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 664 shares of the industrial products company’s stock, valued at approximately $65,000.

Several other large investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in Ingersoll Rand by 20.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,439 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 422 shares during the period. Catalyst Financial Partners LLC increased its holdings in shares of Ingersoll Rand by 5.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 6,328 shares of the industrial products company’s stock valued at $621,000 after acquiring an additional 311 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Ingersoll Rand by 17.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,321 shares of the industrial products company’s stock valued at $915,000 after acquiring an additional 1,359 shares during the last quarter. Andina Capital Management LLC increased its holdings in shares of Ingersoll Rand by 15.3% in the 3rd quarter. Andina Capital Management LLC now owns 5,990 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 797 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in shares of Ingersoll Rand by 13.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 14,958 shares of the industrial products company’s stock valued at $1,468,000 after acquiring an additional 1,717 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Down 2.1 %

Ingersoll Rand stock opened at $93.97 on Monday. Ingersoll Rand Inc. has a twelve month low of $62.12 and a twelve month high of $102.74. The stock has a 50 day moving average of $95.32 and a two-hundred day moving average of $93.50. The company has a current ratio of 2.18, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 2.63 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays increased their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Finally, Evercore ISI decreased their target price on 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. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.17.

Insiders Place Their Bets

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. 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. In other news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the sale, the insider now directly 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. In the last ninety days, insiders sold 77,510 shares of company stock valued at $7,108,005. 0.68% of the stock is owned by company insiders.

Ingersoll Rand 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.