Covestor Ltd Decreases Stake in Ingersoll Rand Inc. (NYSE:IR)

Covestor Ltd reduced its holdings in Ingersoll Rand Inc. (NYSE:IR) by 39.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 362 shares of the industrial products company’s stock after selling 232 shares during the period. Covestor Ltd’s holdings in Ingersoll Rand were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Ridgewood Investments LLC purchased a new position in Ingersoll Rand during the second quarter worth about $25,000. Headlands Technologies LLC purchased a new position in Ingersoll Rand during the first quarter worth about $28,000. ESL Trust Services LLC purchased a new position in Ingersoll Rand during the first quarter worth about $35,000. Eastern Bank purchased a new position in Ingersoll Rand during the third quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC raised its stake in Ingersoll Rand by 38.5% during the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 126 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price target for the company. Cfra lifted their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their price objective 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. Barclays boosted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a research report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.25.

Insider Buying and Selling at Ingersoll Rand

In related news, insider Elizabeth Meloy Hepding sold 7,500 shares of Ingersoll Rand stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the completion of the sale, the insider now owns 6,559 shares in the company, valued at approximately $599,623.78. This trade represents a 53.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. This represents a 17.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,660 shares of company stock valued at $1,348,834. 0.68% of the stock is owned by company insiders.

Ingersoll Rand Stock Down 0.5 %

IR stock opened at $102.43 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company has a fifty day moving average price of $97.52 and a 200 day moving average price of $94.17. Ingersoll Rand Inc. has a 12 month low of $69.46 and a 12 month high of $105.63. The company has a market cap of $41.28 billion, a price-to-earnings ratio of 50.42, a price-to-earnings-growth ratio of 3.96 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The firm also recently disclosed 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 of this dividend is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio 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.