Harbour Investments Inc. Purchases 319 Shares of Ingersoll Rand Inc. (NYSE:IR)

Harbour Investments Inc. lifted its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 16.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the industrial products company’s stock after purchasing an additional 319 shares during the quarter. Harbour Investments Inc.’s holdings in Ingersoll Rand were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IR. Swedbank AB increased its stake in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Ingersoll Rand by 44.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company’s stock valued at $23,048,000 after buying an additional 74,788 shares in the last quarter. Bayesian Capital Management LP raised its stake in Ingersoll Rand by 334.6% during the first quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 8,700 shares during the last quarter. GDS Wealth Management boosted its holdings in Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after acquiring an additional 10,081 shares in the last quarter. Finally, AXA S.A. increased its holdings in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company’s stock valued at $7,978,000 after acquiring an additional 39,417 shares in the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IR shares. UBS Group began coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI reduced their price target on shares of 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. Barclays upped their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.25.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand 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 directly owns 6,559 shares in the company, valued at $599,623.78. This represents a 53.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,660 shares of company stock worth $1,348,834 in the last 90 days. 0.68% of the stock is currently owned by insiders.

Ingersoll Rand Price Performance

NYSE IR opened at $102.43 on Monday. The company has a 50-day moving average price of $97.83 and a 200-day moving average price of $94.25. Ingersoll Rand Inc. has a 52 week low of $69.46 and a 52 week high of $105.63. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $41.28 billion, a P/E ratio of 49.97, a PEG ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is presently 3.90%.

Ingersoll Rand Company 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.