Patron Partners LLC Acquires 205 Shares of Ingersoll Rand Inc. (NYSE:IR)

Patron Partners LLC raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,424 shares of the industrial products company’s stock after purchasing an additional 205 shares during the period. Patron Partners LLC’s holdings in Ingersoll Rand were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. lifted its stake in Ingersoll Rand by 5.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,268 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 328 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Ingersoll Rand during the 1st quarter valued at about $220,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Ingersoll Rand during the first quarter valued at about $1,272,000. NorthRock Partners LLC bought a new position in Ingersoll Rand in the first quarter worth about $241,000. Finally, Meeder Advisory Services Inc. lifted its holdings in Ingersoll Rand by 9.8% in the first quarter. Meeder Advisory Services Inc. now owns 4,053 shares of the industrial products company’s stock worth $385,000 after buying an additional 363 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Up 2.1 %

Ingersoll Rand stock opened at $104.80 on Tuesday. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 3.90 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $68.06 and a 12 month high of $105.33. The stock has a fifty day simple moving average of $96.29 and a two-hundred day simple moving average of $93.87.

Ingersoll Rand Dividend Announcement

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

Analyst Upgrades and Downgrades

IR has been the subject of several research reports. Wells Fargo & Company increased their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus upped their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley started coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Finally, Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.67.

Insider Transactions at Ingersoll Rand

In related news, 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 transaction, the insider now owns 6,559 shares in the company, valued at $599,623.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction 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 approximately $599,623.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,660 shares of company stock worth $5,974,334 over the last three months. 0.68% of the stock is currently 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.