Amalgamated Bank Acquires 2,833 Shares of Ingersoll Rand Inc. (NYSE:IR)

Amalgamated Bank lifted its holdings in Ingersoll Rand Inc. (NYSE:IR) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,480 shares of the industrial products company’s stock after buying an additional 2,833 shares during the period. Amalgamated Bank’s holdings in Ingersoll Rand were worth $8,293,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IR. Ridgewood Investments LLC bought a new stake in Ingersoll Rand during the second quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand during the 1st quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in Ingersoll Rand during the 1st quarter valued at $35,000. Eastern Bank purchased a new position in Ingersoll Rand during the third quarter worth $42,000. Finally, EverSource Wealth Advisors LLC increased its position in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IR shares. Cfra raised their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Stifel Nicolaus raised their price objective on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays raised their price target on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research raised Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Ingersoll Rand Stock Performance

IR stock opened at $102.98 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. Ingersoll Rand Inc. has a 1-year low of $64.60 and a 1-year high of $103.25. The business has a 50-day moving average price of $95.81 and a 200 day moving average price of $93.67. The company has a market capitalization of $41.50 billion, a P/E ratio of 50.23, a PEG ratio of 2.59 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently disclosed 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 yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s payout ratio is 3.90%.

Insiders Place Their Bets

In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the transaction, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Kathleen M. Keene sold 4,629 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were 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 approximately $344,571.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,129 shares of company stock worth $5,727,714 over the last 90 days. Company insiders own 0.68% of the company’s stock.

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.