Swedbank AB Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Swedbank AB trimmed its stake in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 76.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,212 shares of the industrial products company's stock after selling 598,500 shares during the period. Swedbank AB's holdings in Ingersoll Rand were worth $17,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in IR. Dimensional Fund Advisors LP raised its holdings in shares of Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company's stock valued at $314,549,000 after acquiring an additional 224,463 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Ingersoll Rand by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,208,267 shares of the industrial products company's stock valued at $216,763,000 after purchasing an additional 21,289 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Ingersoll Rand by 20.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company's stock valued at $132,168,000 after purchasing an additional 250,712 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Ingersoll Rand by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 963,167 shares of the industrial products company's stock worth $94,544,000 after purchasing an additional 2,458 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Ingersoll Rand by 12.4% during the second quarter. Hsbc Holdings PLC now owns 863,449 shares of the industrial products company's stock valued at $78,422,000 after purchasing an additional 95,371 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the 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 sale, the chief accounting officer now owns 11,910 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.68% of the company's stock.

Ingersoll Rand Stock Performance

Shares of NYSE IR traded down $0.69 during midday trading on Wednesday, reaching $104.05. The company had a trading volume of 1,170,873 shares, compared to its average volume of 2,512,319. The stock has a market cap of $41.93 billion, a P/E ratio of 50.76, a P/E/G ratio of 4.00 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 1 year low of $69.46 and a 1 year high of $106.03. The business's 50-day simple moving average is $99.91 and its 200 day simple moving average is $94.97.

Ingersoll Rand Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Cfra boosted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Wells Fargo & Company raised 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. 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. Finally, Evercore ISI decreased their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $103.83.

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.