CCLA Investment Management Sells 46,705 Shares of Ingersoll Rand Inc. (NYSE:IR)

CCLA Investment Management trimmed its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 720,231 shares of the industrial products company's stock after selling 46,705 shares during the period. CCLA Investment Management owned approximately 0.18% of Ingersoll Rand worth $65,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Ingersoll Rand by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,229,178 shares of the industrial products company's stock valued at $1,789,376,000 after purchasing an additional 1,462,538 shares during the last quarter. FMR LLC boosted its stake in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. State Street Corp grew its holdings in shares of Ingersoll Rand by 0.7% during the third quarter. State Street Corp now owns 15,776,908 shares of the industrial products company's stock worth $1,548,661,000 after buying an additional 112,824 shares during the last quarter. Franklin Resources Inc. increased its position in Ingersoll Rand by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 11,597,321 shares of the industrial products company's stock valued at $1,207,554,000 after acquiring an additional 278,710 shares during the period. Finally, Geode Capital Management LLC raised its stake in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company's stock valued at $923,087,000 after acquiring an additional 54,952 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Stock Performance

IR stock traded up $1.14 during mid-day trading on Wednesday, reaching $90.54. The company had a trading volume of 2,139,185 shares, compared to its average volume of 2,474,421. Ingersoll Rand Inc. has a one year low of $76.64 and a one year high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $36.49 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.84 and a beta of 1.44. The stock's 50-day simple moving average is $98.07 and its two-hundred day simple moving average is $95.74.

Ingersoll Rand Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand's dividend payout ratio is currently 3.90%.

Insider Transactions at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the transaction, the chief accounting officer now directly owns 11,910 shares of the company's stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IR. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Stifel Nicolaus lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and dropped their price target for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Finally, Barclays reduced their price objective on shares of Ingersoll Rand from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.50.

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.