Ingersoll Rand Inc. (NYSE:IR) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 12.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,306 shares of the industrial products company's stock after selling 9,962 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Ingersoll Rand were worth $6,607,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Edgestream Partners L.P. grew its position in Ingersoll Rand by 99.5% during the third quarter. Edgestream Partners L.P. now owns 17,031 shares of the industrial products company's stock worth $1,672,000 after buying an additional 8,496 shares in the last quarter. Verition Fund Management LLC lifted its stake in Ingersoll Rand by 108.2% during the third quarter. Verition Fund Management LLC now owns 7,377 shares of the industrial products company's stock worth $724,000 after purchasing an additional 3,834 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Ingersoll Rand by 2.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 35,351 shares of the industrial products company's stock valued at $3,470,000 after purchasing an additional 728 shares during the last quarter. PEAK6 Investments LLC lifted its position in Ingersoll Rand by 5.8% in the 3rd quarter. PEAK6 Investments LLC now owns 19,038 shares of the industrial products company's stock worth $1,869,000 after buying an additional 1,038 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Ingersoll Rand by 13.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,570 shares of the industrial products company's stock worth $1,725,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company's stock.

Insider Activity at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IR shares. Stifel Nicolaus cut 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 research note on Monday, November 18th. Morgan Stanley started coverage on shares of Ingersoll Rand in a report on Friday, September 6th. They set an "equal weight" rating and a $97.00 target price on the stock. UBS Group initiated coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price target on the stock. Barclays lifted their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $103.83.

Ingersoll Rand Price Performance

Ingersoll Rand stock traded down $0.86 during midday trading on Tuesday, reaching $104.26. 1,775,409 shares of the stock traded hands, compared to its average volume of 2,499,111. The stock has a market cap of $42.02 billion, a P/E ratio of 50.86, a PEG ratio of 3.99 and a beta of 1.42. The stock's fifty day moving average is $100.46 and its 200-day moving average is $95.35. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12 month low of $71.21 and a 12 month high of $106.03.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand 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.