Patron Partners LLC Raises Stake in Ingersoll Rand Inc. (NYSE:IR)

Patron Partners LLC increased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 9.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,424 shares of the industrial products company’s stock after acquiring an additional 205 shares during the period. Patron Partners LLC’s holdings in Ingersoll Rand were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IR. Envestnet Portfolio Solutions Inc. raised its holdings in Ingersoll Rand by 5.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,268 shares of the industrial products company’s stock valued at $595,000 after acquiring an additional 328 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Ingersoll Rand during the 1st quarter valued at approximately $220,000. Susquehanna Fundamental Investments LLC purchased a new position in Ingersoll Rand in the 1st quarter worth approximately $1,272,000. NorthRock Partners LLC bought a new position in Ingersoll Rand in the 1st quarter worth approximately $241,000. Finally, Meeder Advisory Services Inc. grew its holdings in Ingersoll Rand by 9.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,053 shares of the industrial products company’s stock valued at $385,000 after buying an additional 363 shares in the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Price Performance

Ingersoll Rand stock opened at $104.80 on Tuesday. The firm has a market capitalization of $42.24 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 3.90 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $68.06 and a 12-month high of $105.33. The firm has a 50-day moving average price of $96.29 and a 200-day moving average price of $93.87. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Ingersoll Rand Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Buying and Selling at Ingersoll Rand

In related 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 owns 100,367 shares of the company’s stock, valued at $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Elizabeth Meloy Hepding sold 7,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now directly owns 6,559 shares of the company’s stock, valued at $599,623.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand 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 sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,660 shares of company stock valued at $5,974,334 in the last three months. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IR shares. Cfra upped their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Evercore ISI dropped their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Stifel Nicolaus lifted their target price on Ingersoll Rand from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley assumed coverage on Ingersoll Rand in a research note on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.67.

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.