New York State Common Retirement Fund Cuts Stake in Ingersoll Rand Inc. (NYSE:IR)

New York State Common Retirement Fund cut its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 318,957 shares of the industrial products company's stock after selling 55,924 shares during the period. New York State Common Retirement Fund owned about 0.08% of Ingersoll Rand worth $31,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC raised its holdings in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company's stock worth $206,000 after buying an additional 119 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Ingersoll Rand by 6.0% in the third quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company's stock valued at $211,000 after purchasing an additional 121 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 126 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company's stock worth $300,000 after buying an additional 133 shares during the period. Finally, Asio Capital LLC raised its holdings in shares of Ingersoll Rand by 0.3% in the 3rd quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company's stock valued at $4,327,000 after buying an additional 133 shares during the period. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded up $0.64 during trading on Monday, hitting $94.61. 2,520,049 shares of the stock were exchanged, compared to its average volume of 2,542,228. Ingersoll Rand Inc. has a 1-year low of $64.60 and a 1-year high of $102.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18. The company's fifty day simple moving average is $95.40 and its 200-day simple moving average is $93.54. The company has a market capitalization of $38.17 billion, a price-to-earnings ratio of 46.15, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IR. Stifel Nicolaus upped their price target on Ingersoll Rand from $101.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Robert W. Baird dropped their price target on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday. Morgan Stanley started coverage on Ingersoll Rand in a research note on Friday, September 6th. They issued an "equal weight" rating and a $97.00 target price on the stock. Wells Fargo & Company upped their target price 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. Finally, Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $101.67.

Insider Transactions at Ingersoll Rand

In related news, insider Andrew R. Schiesl sold 15,381 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the sale, the insider now directly owns 39,486 shares in the company, valued at $3,543,473.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $89.74, for a total value of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company's stock, valued at approximately $3,543,473.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,510 shares of company stock worth $7,108,005 in the last quarter. 0.68% of the stock is owned by company insiders.

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.