Ashton Thomas Securities LLC Makes New $34,000 Investment in Ingersoll Rand Inc. (NYSE:IR)

Ashton Thomas Securities LLC acquired a new stake in shares of Ingersoll Rand Inc. (NYSE:IR) in the third quarter, HoldingsChannel.com reports. The fund acquired 349 shares of the industrial products company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthspire Advisors LLC lifted its position in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock worth $206,000 after buying an additional 119 shares in the last quarter. Kanawha Capital Management LLC boosted its position in shares of Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after acquiring an additional 119 shares during the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 121 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. Robert W. Baird reduced 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. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Barclays lifted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI decreased their price target on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Morgan Stanley started coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.25.

Ingersoll Rand Price Performance

Shares of IR stock opened at $102.99 on Friday. The company’s 50-day simple moving average is $97.21 and its two-hundred day simple moving average is $94.11. 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 one year low of $69.29 and a one year high of $105.63. The company has a market capitalization of $41.51 billion, a P/E ratio of 50.90, a P/E/G ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently announced 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. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.90%.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares of the company’s stock, valued at approximately $599,623.78. The trade was a 53.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,660 shares of company stock worth $1,348,834. 0.68% of the stock is currently owned by company insiders.

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.