Tidal Investments LLC Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Tidal Investments LLC reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,144 shares of the industrial products company's stock after selling 5,544 shares during the period. Tidal Investments LLC's holdings in Ingersoll Rand were worth $2,075,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IR. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ingersoll Rand during the 3rd quarter worth approximately $562,000. Sanctuary Advisors LLC boosted its stake in Ingersoll Rand by 100.2% during the third quarter. Sanctuary Advisors LLC now owns 22,223 shares of the industrial products company's stock worth $2,311,000 after acquiring an additional 11,124 shares in the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in Ingersoll Rand by 11.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 3,043 shares of the industrial products company's stock worth $299,000 after purchasing an additional 309 shares during the period. Virtu Financial LLC bought a new stake in Ingersoll Rand in the third quarter valued at $864,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Ingersoll Rand by 28.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 221,919 shares of the industrial products company's stock valued at $21,783,000 after purchasing an additional 48,975 shares during the period. 95.27% of the stock is owned by institutional investors.

Ingersoll Rand Stock Down 2.3 %

IR stock traded down $2.30 during trading on Tuesday, reaching $97.55. The stock had a trading volume of 3,051,345 shares, compared to its average volume of 2,469,952. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $39.31 billion, a price-to-earnings ratio of 48.71, a P/E/G ratio of 3.86 and a beta of 1.42. Ingersoll Rand Inc. has a one year low of $74.01 and a one year high of $106.03. The company's 50 day moving average is $101.10 and its two-hundred day moving average is $95.83.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date was 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 (DPR) is currently 3.90%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IR shares. UBS Group started coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price for the company. Wolfe Research raised Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Morgan Stanley initiated 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. Cfra lifted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Finally, Barclays boosted their price target on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.67.

Insiders Place Their Bets

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the business's stock in a transaction dated 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 directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was 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. Insiders own 0.68% of the company's stock.

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.