Public Employees Retirement System of Ohio Sells 7,098 Shares of Ingersoll Rand Inc. (NYSE:IR)

Public Employees Retirement System of Ohio lessened its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 148,384 shares of the industrial products company's stock after selling 7,098 shares during the period. Public Employees Retirement System of Ohio's holdings in Ingersoll Rand were worth $14,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand in the third quarter valued at about $34,000. Eastern Bank bought a new stake in shares of Ingersoll Rand in the third quarter worth about $42,000. UMB Bank n.a. raised its position in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock worth $42,000 after purchasing an additional 309 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 95.27% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IR. Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and lowered their target price for the stock from $112.00 to $107.00 in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Robert W. Baird cut their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a report on Friday, September 20th. Finally, Morgan Stanley initiated coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ingersoll Rand currently has a consensus rating of "Moderate Buy" and an average price target of $105.67.

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the business'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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.68% of the company's stock.

Ingersoll Rand Stock Performance

NYSE:IR traded down $0.17 during mid-day trading on Wednesday, hitting $101.67. The stock had a trading volume of 1,748,359 shares, compared to its average volume of 2,479,213. The company's 50 day simple moving average is $101.02 and its 200 day simple moving average is $95.61. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 49.55, a PEG ratio of 3.88 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand Inc. has a twelve month low of $73.52 and a twelve month high of $106.03.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were 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 of this dividend was Thursday, November 14th. Ingersoll Rand's dividend payout ratio is 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.