Victory Capital Management Inc. Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Victory Capital Management Inc. lowered its position in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,685 shares of the industrial products company's stock after selling 7,122 shares during the quarter. Victory Capital Management Inc.'s holdings in Ingersoll Rand were worth $16,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB boosted its holdings in shares of Ingersoll Rand by 34.0% during the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company's stock worth $70,920,000 after purchasing an additional 198,200 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Ingersoll Rand by 44.5% during the first quarter. Canada Pension Plan Investment Board now owns 242,735 shares of the industrial products company's stock worth $23,048,000 after purchasing an additional 74,788 shares during the period. Bayesian Capital Management LP boosted its holdings in shares of Ingersoll Rand by 334.6% during the first quarter. Bayesian Capital Management LP now owns 11,300 shares of the industrial products company's stock worth $1,073,000 after purchasing an additional 8,700 shares during the period. GDS Wealth Management boosted its holdings in shares of Ingersoll Rand by 6.4% during the third quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company's stock worth $16,417,000 after purchasing an additional 10,081 shares during the period. Finally, AXA S.A. boosted its holdings in shares of Ingersoll Rand by 81.4% during the second quarter. AXA S.A. now owns 87,829 shares of the industrial products company's stock worth $7,978,000 after purchasing an additional 39,417 shares during the period. 95.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Michael J. Scheske sold 2,531 shares of the 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 completion of the sale, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. This represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now owns 3,829 shares of the company's stock, valued at $344,571.71. This trade represents a 54.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

IR has been the subject of a number of research reports. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an "equal weight" rating and a $97.00 price target for the company. UBS Group initiated coverage on shares of Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price target for the company. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Cfra increased their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Finally, Evercore ISI decreased their price target on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research note on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average price target of $103.83.

Ingersoll Rand Stock Performance

Shares of IR stock traded up $0.75 during trading hours on Wednesday, hitting $103.13. The company's stock had a trading volume of 1,989,084 shares, compared to its average volume of 2,523,943. The company has a 50 day moving average of $98.40 and a 200 day moving average of $94.42. The stock has a market cap of $41.56 billion, a PE ratio of 49.94, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The company has a current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. Ingersoll Rand Inc. has a 12-month low of $69.46 and a 12-month high of $105.63.

Ingersoll Rand Dividend Announcement

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

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.