DRW Securities LLC Invests $543,000 in Ingersoll Rand Inc. (NYSE:IR)

DRW Securities LLC bought a new stake in Ingersoll Rand Inc. (NYSE:IR) during the 3rd quarter, HoldingsChannel reports. The fund bought 5,535 shares of the industrial products company’s stock, valued at approximately $543,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand during the second quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand in the 3rd quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its stake in Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after buying an additional 126 shares during the period. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock worth $42,000 after buying an additional 309 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Ingersoll Rand in the 3rd quarter worth approximately $42,000. Institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They set a “buy” rating and a $124.00 price objective on the stock. Wolfe Research raised Ingersoll Rand to a “hold” rating in a research note 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. Robert W. Baird cut their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Activity at Ingersoll Rand

In related 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 transaction of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.

Ingersoll Rand Trading Down 0.6 %

Ingersoll Rand stock opened at $104.72 on Wednesday. Ingersoll Rand Inc. has a 52 week low of $69.46 and a 52 week high of $106.03. 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 capitalization of $42.20 billion, a price-to-earnings ratio of 51.08, a P/E/G ratio of 3.95 and a beta of 1.42. The company has a 50 day moving average price of $99.70 and a 200 day moving average price of $94.91.

Ingersoll Rand Dividend Announcement

The firm 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 dividend of $0.02 per share. The ex-dividend date of this dividend 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 is 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.