Ingersoll Rand Inc. (NYSE:IR) Stake Reduced by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lowered its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 264,920 shares of the industrial products company's stock after selling 2,983 shares during the period. CHURCHILL MANAGEMENT Corp owned about 0.07% of Ingersoll Rand worth $23,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IR. Virtu Financial LLC bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth about $864,000. Nordea Investment Management AB grew its stake 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 worth $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings 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 during the last quarter. GDS Wealth Management raised its stake in Ingersoll Rand by 6.4% during 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 lifted its holdings in Ingersoll Rand by 28.2% during the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company's stock worth $9,987,000 after buying an additional 22,401 shares during the last quarter. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded up $0.11 during midday trading on Thursday, hitting $90.64. 2,132,159 shares of the company's stock were exchanged, compared to its average volume of 2,440,185. Ingersoll Rand Inc. has a twelve month low of $76.97 and a twelve month high of $106.03. The firm has a market cap of $36.53 billion, a P/E ratio of 44.22, a PEG ratio of 3.17 and a beta of 1.44. The stock's 50 day moving average price is $97.82 and its 200-day moving average price is $95.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

Ingersoll Rand Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday. Stifel Nicolaus downgraded shares of Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their price objective for the company from $112.00 to $107.00 in a research report on Monday, November 18th. Finally, Robert W. Baird dropped their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.50.

Insider Activity

In other news, CAO Michael J. Scheske sold 2,531 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.68% of the company's stock.

About Ingersoll Rand

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.