Empowered Funds LLC Purchases 463 Shares of Ingersoll Rand Inc. (NYSE:IR)

Empowered Funds LLC boosted its position in Ingersoll Rand Inc. (NYSE:IR) by 7.8% during the 3rd quarter, Holdings Channel reports. The fund owned 6,416 shares of the industrial products company’s stock after buying an additional 463 shares during the period. Empowered Funds LLC’s holdings in Ingersoll Rand were worth $630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Ridgewood Investments LLC acquired a new stake in Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Ingersoll Rand during the third quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its position in shares of Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 126 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 196.8% in the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 309 shares during the last quarter. Finally, Eastern Bank bought a new position in Ingersoll Rand in the 3rd quarter valued at about $42,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

Shares of IR stock opened at $104.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 3.91 and a beta of 1.42. Ingersoll Rand Inc. has a 52 week low of $69.46 and a 52 week high of $105.63. The firm’s 50-day simple moving average is $99.20 and its two-hundred day simple moving average is $94.68.

Ingersoll Rand Dividend Announcement

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

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand 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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathleen M. Keene sold 4,629 shares of the 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 sale, the insider now owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of recent research reports. Cfra boosted their price objective on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Evercore ISI lowered their price target 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. Wells Fargo & Company lifted their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Finally, Morgan Stanley assumed 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 on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.83.

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.