Raymond James Trust N.A. Buys 462 Shares of Ingersoll Rand Inc. (NYSE:IR)

Raymond James Trust N.A. raised its stake in Ingersoll Rand Inc. (NYSE:IR) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund owned 15,511 shares of the industrial products company’s stock after purchasing an additional 462 shares during the quarter. Raymond James Trust N.A.’s holdings in Ingersoll Rand were worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IR. Eagle Asset Management Inc. increased its holdings in shares of Ingersoll Rand by 3.2% in the third quarter. Eagle Asset Management Inc. now owns 30,520 shares of the industrial products company’s stock worth $3,132,000 after purchasing an additional 953 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ingersoll Rand by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company’s stock valued at $216,763,000 after buying an additional 21,289 shares in the last quarter. Banco Santander S.A. increased its stake in Ingersoll Rand by 28.7% in the 3rd quarter. Banco Santander S.A. now owns 6,337 shares of the industrial products company’s stock worth $622,000 after acquiring an additional 1,415 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of Ingersoll Rand by 14.5% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,583 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 582 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Ingersoll Rand by 28.2% during the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after acquiring an additional 22,401 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

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

Ingersoll Rand Announces Dividend

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 $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, November 14th. Ingersoll Rand’s payout ratio is presently 3.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Evercore ISI decreased their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Stifel Nicolaus lowered Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their price target for the stock from $112.00 to $107.00 in a research report on Monday, November 18th. 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, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Buying and Selling

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