Ingersoll Rand Inc. $IR Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Ingersoll Rand Inc. (NYSE:IR) by 79.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,411 shares of the industrial products company’s stock after purchasing an additional 12,539 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Ingersoll Rand were worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IR. NewSquare Capital LLC boosted its stake in Ingersoll Rand by 150.7% during the second quarter. NewSquare Capital LLC now owns 341 shares of the industrial products company’s stock worth $28,000 after buying an additional 205 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in shares of Ingersoll Rand in the 3rd quarter worth approximately $36,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $36,000. Westside Investment Management Inc. increased its holdings in Ingersoll Rand by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 464 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 232 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in Ingersoll Rand in the second quarter valued at approximately $42,000. 95.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 1,477 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $80.63, for a total transaction of $119,090.51. Following the completion of the transaction, the chief accounting officer owned 12,153 shares in the company, valued at $979,896.39. The trade was a 10.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vicente Reynal sold 191,000 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $88.12, for a total transaction of $16,830,920.00. Following the completion of the sale, the insider owned 193,186 shares in the company, valued at $17,023,550.32. The trade was a 49.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 292,477 shares of company stock valued at $26,703,912 in the last quarter. 0.59% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on IR. Wells Fargo & Company raised their price target on Ingersoll Rand from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Stifel Nicolaus raised their target price on Ingersoll Rand from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, January 23rd. Zacks Research upgraded shares of Ingersoll Rand from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Robert W. Baird reduced their price target on shares of Ingersoll Rand from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ingersoll Rand in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.13.

Ingersoll Rand Stock Performance

Shares of Ingersoll Rand stock opened at $98.52 on Friday. Ingersoll Rand Inc. has a one year low of $65.61 and a one year high of $99.44. The company has a market cap of $38.93 billion, a PE ratio of 72.98, a P/E/G ratio of 6.21 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.51 and a current ratio of 2.16. The business has a 50-day simple moving average of $84.04 and a 200-day simple moving average of $81.08.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.