Peapack Gladstone Financial Corp Trims Stake in Ingersoll Rand Inc. (NYSE:IR)

Peapack Gladstone Financial Corp trimmed its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 121,618 shares of the industrial products company's stock after selling 7,622 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Ingersoll Rand were worth $11,938,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company's stock valued at $1,585,489,000 after purchasing an additional 1,538,056 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Ingersoll Rand by 9,681.5% during the 3rd quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company's stock valued at $353,720,000 after purchasing an additional 356,665 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Ingersoll Rand by 20.8% during the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company's stock valued at $132,168,000 after buying an additional 250,712 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 worth $314,549,000 after buying an additional 224,463 shares in the last quarter. Finally, Robeco Schweiz AG lifted its holdings in Ingersoll Rand by 52.8% in the second quarter. Robeco Schweiz AG now owns 521,365 shares of the industrial products company's stock worth $47,361,000 after buying an additional 180,168 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now owns 11,910 shares of the company's stock, valued at $1,160,510.40. This represents a 17.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on IR shares. Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their target price for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Citigroup upped their price target on shares of Ingersoll Rand from $112.00 to $119.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. The Goldman Sachs Group increased their target price on Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research note on Thursday. Robert W. Baird decreased their target price on 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, Wells Fargo & Company lifted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $107.67.

Ingersoll Rand Price Performance

Shares of IR traded down $0.32 during mid-day trading on Friday, hitting $101.10. 1,441,864 shares of the stock were exchanged, compared to its average volume of 2,469,672. The firm has a 50-day moving average of $101.10 and a two-hundred day moving average of $95.73. Ingersoll Rand Inc. has a 52-week low of $74.01 and a 52-week high of $106.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The company has a market cap of $40.74 billion, a PE ratio of 49.32, a price-to-earnings-growth ratio of 3.86 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand's dividend payout ratio is currently 3.90%.

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.