Thrivent Financial for Lutherans Reduces Stock Position in Ingersoll Rand Inc. (NYSE:IR)

Thrivent Financial for Lutherans decreased its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 41.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,417 shares of the industrial products company's stock after selling 123,862 shares during the quarter. Thrivent Financial for Lutherans' holdings in Ingersoll Rand were worth $16,925,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new position in Ingersoll Rand in the 2nd quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in Ingersoll Rand in the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC raised its holdings in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 196.8% in the second 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 in the last quarter. Finally, Eastern Bank bought a new position in Ingersoll Rand in the 3rd quarter worth approximately $42,000. 95.27% of the stock is currently owned by institutional investors.

Insider Activity 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 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 owns 11,910 shares of the company's stock, valued at $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen M. Keene sold 4,629 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the transaction, the insider now owns 3,829 shares of the company's stock, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Ingersoll Rand Trading Down 0.1 %

IR stock traded down $0.07 during trading on Thursday, hitting $103.04. The company had a trading volume of 2,151,156 shares, compared to its average volume of 2,522,425. The firm has a market capitalization of $41.53 billion, a P/E ratio of 50.26, a PEG ratio of 3.88 and a beta of 1.42. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 52-week low of $69.46 and a 52-week high of $105.63. The company has a 50 day simple moving average of $98.94 and a 200-day simple moving average of $94.54.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand's dividend payout ratio is presently 3.90%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IR. Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, October 7th. UBS Group assumed coverage on Ingersoll Rand in a research report on Wednesday, November 13th. They set a "buy" rating and a $124.00 target price for the company. Cfra raised their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a report on Friday, October 4th. Robert W. Baird lowered their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI dropped their price objective on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.83.

Ingersoll Rand 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.