Everence Capital Management Inc. reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,160 shares of the industrial products company's stock after selling 7,360 shares during the period. Everence Capital Management Inc.'s holdings in Ingersoll Rand were worth $1,552,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of IR. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand during the 3rd quarter worth approximately $34,000. Eastern Bank purchased a new stake in shares of Ingersoll Rand during the third quarter worth $42,000. Rothschild Investment LLC acquired a new stake in shares of Ingersoll Rand in the second quarter valued at $43,000. Kimelman & Baird LLC purchased a new position in Ingersoll Rand in the second quarter valued at $57,000. Finally, Versant Capital Management Inc grew its stake in Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company's stock worth $61,000 after purchasing an additional 589 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.
Ingersoll Rand Stock Performance
Ingersoll Rand stock traded up $1.97 during midday trading on Friday, hitting $92.49. 2,473,199 shares of the company's stock were exchanged, compared to its average volume of 1,679,753. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The stock has a market cap of $37.27 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 3.84 and a beta of 1.42. Ingersoll Rand Inc. has a 12-month low of $74.01 and a 12-month high of $106.03. The firm's 50 day simple moving average is $99.09 and its 200 day simple moving average is $95.85.
Ingersoll Rand Dividend Announcement
The business also recently disclosed 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 payout ratio is 3.90%.
Analyst Upgrades and Downgrades
IR has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and cut their price target for the company from $112.00 to $107.00 in a research note on Monday, November 18th. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Morgan Stanley assumed coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an "equal weight" rating and a $97.00 target price on the stock. Finally, Barclays upped their price target on Ingersoll Rand from $105.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.67.
Get Our Latest Research Report on Ingersoll Rand
Insider Buying and Selling at Ingersoll Rand
In other Ingersoll Rand 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 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. This represents a 17.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company's stock.
Ingersoll Rand Company Profile
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Free Report)
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.
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