Beese Fulmer Investment Management Inc. Purchases 2,982 Shares of Ingersoll Rand Inc. (NYSE:IR)

Beese Fulmer Investment Management Inc. grew its position in Ingersoll Rand Inc. (NYSE:IR) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,785 shares of the industrial products company’s stock after purchasing an additional 2,982 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Ingersoll Rand were worth $9,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Ingersoll Rand during the 2nd quarter worth $25,000. Headlands Technologies LLC bought a new position in shares of Ingersoll Rand during the 1st quarter valued at about $28,000. Riverview Trust Co bought a new stake in Ingersoll Rand during the 1st quarter worth approximately $29,000. ESL Trust Services LLC acquired a new stake in Ingersoll Rand during the 1st quarter worth approximately $35,000. Finally, Eastern Bank bought a new position in Ingersoll Rand in the third quarter valued at approximately $42,000. 95.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Vicente Reynal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now owns 6,559 shares of the company’s stock, valued at $599,623.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the transaction, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock valued at $7,108,005 over the last quarter. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Performance

IR opened at $96.39 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The business has a fifty day simple moving average of $94.60 and a 200 day simple moving average of $93.29. Ingersoll Rand Inc. has a 1 year low of $59.20 and a 1 year high of $102.74. The company has a market capitalization of $38.89 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. Research analysts expect that Ingersoll Rand Inc. will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 3.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IR shares. Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Evercore ISI reduced 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. Barclays boosted their price objective on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their target price on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird raised their price objective on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Ingersoll Rand has an average rating of “Moderate Buy” and an average price target of $102.17.

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.