Miracle Mile Advisors LLC Has $1.72 Million Position in Ingersoll Rand Inc. (NYSE:IR)

Miracle Mile Advisors LLC increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,977 shares of the industrial products company’s stock after acquiring an additional 1,798 shares during the period. Miracle Mile Advisors LLC’s holdings in Ingersoll Rand were worth $1,717,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Ingersoll Rand during the 3rd quarter valued at about $864,000. Nordea Investment Management AB boosted its position in Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after buying an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Ingersoll Rand by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after buying an additional 7,784 shares in the last quarter. GDS Wealth Management boosted its position in Ingersoll Rand by 6.4% in the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock valued at $16,417,000 after buying an additional 10,081 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in Ingersoll Rand by 28.2% in the third quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock valued at $9,987,000 after buying an additional 22,401 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on IR. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Cfra boosted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. UBS Group began coverage on shares of Ingersoll Rand in a research report on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Finally, Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Ingersoll Rand Trading Up 1.4 %

IR opened at $89.40 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 3.84 and a beta of 1.44. The firm has a 50 day simple moving average of $98.07 and a 200 day simple moving average of $95.74. Ingersoll Rand Inc. has a fifty-two week low of $76.64 and a fifty-two week high of $106.03.

Ingersoll Rand Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is currently owned by insiders.

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.