Teachers Retirement System of The State of Kentucky Purchases 48,975 Shares of Ingersoll Rand Inc. (NYSE:IR)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 28.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,919 shares of the industrial products company's stock after purchasing an additional 48,975 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Ingersoll Rand worth $21,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of IR. Wealthspire Advisors LLC lifted 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 valued at $206,000 after purchasing an additional 119 shares in the last quarter. Kanawha Capital Management LLC lifted its stake in Ingersoll Rand by 2.4% in the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company's stock valued at $500,000 after acquiring an additional 119 shares in the last quarter. Opal Wealth Advisors LLC boosted its position in Ingersoll Rand by 6.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 2,145 shares of the industrial products company's stock worth $211,000 after acquiring an additional 121 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Ingersoll Rand by 4.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company's stock worth $300,000 after acquiring an additional 133 shares in the last quarter. Finally, Asio Capital LLC raised its holdings in shares of Ingersoll Rand by 0.3% in the third quarter. Asio Capital LLC now owns 44,085 shares of the industrial products company's stock valued at $4,327,000 after purchasing an additional 133 shares during the last quarter. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IR. The Goldman Sachs Group raised their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the company a "buy" rating in a research report on Thursday. UBS Group started coverage on Ingersoll Rand in a report on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price objective for the company. Robert W. Baird dropped their price objective on Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Barclays boosted their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ingersoll Rand has an average rating of "Moderate Buy" and a consensus target price of $107.67.

Ingersoll Rand Stock Performance

Shares of IR stock traded down $0.26 during midday trading on Thursday, hitting $101.42. 1,201,942 shares of the company were exchanged, compared to its average volume of 2,473,955. Ingersoll Rand Inc. has a 52 week low of $73.52 and a 52 week high of $106.03. The firm's 50 day moving average price is $101.05 and its two-hundred day moving average price is $95.65. 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 firm has a market capitalization of $40.87 billion, a P/E ratio of 49.49, a PEG ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Michael J. Scheske sold 2,531 shares of the business's stock in a transaction that occurred 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 approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.68% of the company's stock.

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.