Spire Wealth Management Raises Position in Ingersoll Rand Inc. (NYSE:IR)

Spire Wealth Management raised its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 13.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,593 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Spire Wealth Management’s holdings in Ingersoll Rand were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Ingersoll Rand in the 1st quarter worth about $26,000. Raleigh Capital Management Inc. increased its holdings in shares of Ingersoll Rand by 87.0% in the 2nd quarter. Raleigh Capital Management Inc. now owns 475 shares of the industrial products company’s stock worth $31,000 after buying an additional 221 shares during the last quarter. Compass Wealth Management LLC bought a new stake in shares of Ingersoll Rand in the 4th quarter worth about $32,000. Farmers & Merchants Investments Inc. increased its holdings in shares of Ingersoll Rand by 127.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 679 shares of the industrial products company’s stock worth $40,000 after buying an additional 380 shares during the last quarter. Finally, Clear Street Markets LLC increased its holdings in shares of Ingersoll Rand by 93.9% in the 1st quarter. Clear Street Markets LLC now owns 793 shares of the industrial products company’s stock worth $46,000 after buying an additional 384 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors.

Ingersoll Rand Price Performance

Shares of IR opened at $70.42 on Tuesday. The company has a 50 day moving average price of $64.61 and a 200-day moving average price of $64.43. Ingersoll Rand Inc. has a fifty-two week low of $50.75 and a fifty-two week high of $70.65. The stock has a market capitalization of $28.51 billion, a PE ratio of 37.66, a PEG ratio of 2.04 and a beta of 1.47. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.60 and a current ratio of 2.26.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 20th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.28%.

Insider Buying and Selling

In related news, insider Andrew R. Schiesl sold 9,532 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.22, for a total transaction of $631,209.04. Following the completion of the transaction, the insider now owns 58,263 shares in the company, valued at approximately $3,858,175.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Andrew R. Schiesl sold 9,532 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.22, for a total transaction of $631,209.04. Following the completion of the transaction, the insider now owns 58,263 shares in the company, valued at approximately $3,858,175.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vikram Kini sold 169,153 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $69.43, for a total transaction of $11,744,292.79. Following the transaction, the chief financial officer now owns 47,917 shares in the company, valued at approximately $3,326,877.31. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IR. Morgan Stanley boosted their target price on shares of Ingersoll Rand from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Stifel Nicolaus raised shares of Ingersoll Rand from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Tuesday, October 24th. The Goldman Sachs Group lifted their price target on shares of Ingersoll Rand from $76.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company lowered their price objective on shares of Ingersoll Rand from $76.00 to $70.00 in a research report on Monday, October 9th. Finally, Robert W. Baird boosted their price objective on shares of Ingersoll Rand from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.10.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, fluid, energy, specialty vehicle, and medical technologies in the United States, Europe, the Middle East, India, Africa, and the Asia Pacific. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies.