New England Research & Management Inc. Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

New England Research & Management Inc. lowered its stake in Ingersoll Rand Inc. (NYSE:IR) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,712 shares of the industrial products company’s stock after selling 1,663 shares during the quarter. New England Research & Management Inc.’s holdings in Ingersoll Rand were worth $1,331,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Ingersoll Rand during the 3rd quarter worth $34,000. Eastern Bank acquired a new stake in Ingersoll Rand during the 3rd quarter worth approximately $42,000. UMB Bank n.a. boosted its holdings in shares of Ingersoll Rand by 27.0% in the fourth quarter. UMB Bank n.a. now owns 598 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 127 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Ingersoll Rand by 654.4% during the 4th quarter. Versant Capital Management Inc now owns 679 shares of the industrial products company’s stock worth $61,000 after buying an additional 589 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Ingersoll Rand during the 3rd quarter worth $65,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ingersoll Rand

In other news, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the transaction, 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 legal filing with the SEC, which is available at this link. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Wells Fargo & Company lowered their price target on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Citigroup reduced their price target on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Cfra upped their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Robert W. Baird dropped their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Stock Performance

IR opened at $91.25 on Thursday. Ingersoll Rand Inc. has a 1-year low of $79.73 and a 1-year high of $106.03. The company has a market capitalization of $36.77 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 3.73 and a beta of 1.44. The business has a 50 day moving average price of $95.90 and a two-hundred day moving average price of $95.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71.

About Ingersoll Rand

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.