Contravisory Investment Management Inc. Has $857,000 Stake in Ingersoll Rand Inc. (NYSE:IR)

Contravisory Investment Management Inc. raised its position in shares of Ingersoll Rand Inc. (NYSE:IRFree Report) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,474 shares of the industrial products company’s stock after purchasing an additional 178 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Ingersoll Rand were worth $857,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IR. Ashton Thomas Securities LLC bought a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $34,000. Eastern Bank acquired a new position in Ingersoll Rand in the third quarter valued at approximately $42,000. Kimelman & Baird LLC acquired a new stake in shares of Ingersoll Rand during the 2nd quarter worth approximately $57,000. Versant Capital Management Inc lifted its position in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 589 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in Ingersoll Rand during the third quarter worth $65,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Shares of NYSE:IR opened at $90.54 on Thursday. The company has a 50-day moving average price of $98.07 and a two-hundred day moving average price of $95.74. 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 firm has a market capitalization of $36.49 billion, a PE ratio of 44.17, a P/E/G ratio of 3.17 and a beta of 1.44.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s payout ratio is 3.90%.

Analyst Ratings Changes

Several research firms have recently commented on IR. Wells Fargo & Company decreased their target price on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wolfe Research raised Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Barclays dropped their target price on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus downgraded Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their price target for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Finally, Citigroup lowered their price target on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Check Out Our Latest Report on Ingersoll Rand

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total transaction 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 $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Ingersoll Rand (NYSE:IR)

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