Wedmont Private Capital Acquires 592 Shares of Ingersoll Rand Inc. (NYSE:IR)

Wedmont Private Capital raised its holdings in Ingersoll Rand Inc. (NYSE:IR) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,119 shares of the industrial products company’s stock after acquiring an additional 592 shares during the quarter. Wedmont Private Capital’s holdings in Ingersoll Rand were worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Ingersoll Rand in the third quarter worth $34,000. Eastern Bank acquired a new stake in shares of Ingersoll Rand during the third quarter worth $42,000. Kimelman & Baird LLC acquired a new stake in shares of Ingersoll Rand during the second quarter worth $57,000. Versant Capital Management Inc raised its holdings in shares of Ingersoll Rand by 654.4% during the fourth quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Ingersoll Rand during the third quarter worth $65,000. 95.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IR. Robert W. Baird dropped their price objective 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. Wells Fargo & Company lowered their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Citigroup decreased their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Finally, Stifel Nicolaus downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Insider Activity

In other 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $90.54 on Thursday. Ingersoll Rand Inc. has a twelve month low of $76.64 and a twelve month high of $106.03. 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 company has a 50-day simple moving average of $98.07 and a two-hundred day simple moving average of $95.74. The stock has a market capitalization of $36.49 billion, a price-to-earnings ratio of 44.17, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Thursday, November 14th. 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.