Bank of Montreal Can reduced its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,387 shares of the industrial products company's stock after selling 57,329 shares during the quarter. Bank of Montreal Can owned about 0.12% of Ingersoll Rand worth $47,999,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in Ingersoll Rand during the third quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in Ingersoll Rand by 38.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock valued at $42,000 after buying an additional 126 shares during the period. UMB Bank n.a. increased its stake in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 309 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Ingersoll Rand during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 95.27% of the company's stock.
Ingersoll Rand Stock Down 0.7 %
IR traded down $0.69 during trading hours on Thursday, reaching $104.05. 1,170,873 shares of the stock traded hands, compared to its average volume of 2,512,319. Ingersoll Rand Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $106.03. 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 $41.93 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 4.00 and a beta of 1.42. The firm's fifty day simple moving average is $100.03 and its two-hundred day simple moving average is $95.03.
Ingersoll Rand Announces Dividend
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 paid 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 (DPR) is currently 3.90%.
Insider Transactions at Ingersoll Rand
In other news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 owns 11,910 shares in the company, valued at approximately $1,160,510.40. This trade represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.
Analyst Ratings Changes
IR has been the subject of a number of recent analyst reports. UBS Group began coverage on shares of Ingersoll Rand in a report on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price for the company. Stifel Nicolaus downgraded Ingersoll Rand from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Evercore ISI lowered their price target on Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Finally, Barclays boosted their target price on Ingersoll Rand from $101.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $103.83.
View Our Latest Analysis on Ingersoll Rand
About Ingersoll Rand
(
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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