Ingersoll Rand Inc. (NYSE:IR) Shares Sold by Swedbank AB

Swedbank AB lessened its position in Ingersoll Rand Inc. (NYSE:IR) by 76.7% during the third quarter, Holdings Channel reports. The fund owned 182,212 shares of the industrial products company’s stock after selling 598,500 shares during the quarter. Swedbank AB’s holdings in Ingersoll Rand were worth $17,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IR. Wealthspire Advisors LLC grew its stake 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 worth $206,000 after purchasing an additional 119 shares in the last quarter. Kanawha Capital Management LLC increased its stake in Ingersoll Rand by 2.4% during the 3rd quarter. Kanawha Capital Management LLC now owns 5,096 shares of the industrial products company’s stock valued at $500,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC lifted its stake in shares of Ingersoll Rand by 6.0% in 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 period. EverSource Wealth Advisors LLC boosted its holdings in shares of Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 126 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in Ingersoll Rand by 4.2% during the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 133 shares in the last quarter. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Trading Down 0.6 %

NYSE:IR opened at $104.72 on Wednesday. The stock has a market cap of $42.20 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 3.95 and a beta of 1.42. Ingersoll Rand Inc. has a fifty-two week low of $69.46 and a fifty-two week high of $106.03. 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 stock’s 50-day moving average is $99.70 and its two-hundred day moving average is $94.91.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is presently 3.90%.

Analyst Ratings Changes

IR has been the subject of several research reports. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and decreased their target price for the company from $112.00 to $107.00 in a research note on Monday, November 18th. Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research upgraded shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Morgan Stanley assumed coverage on Ingersoll Rand in a research report on Friday, September 6th. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, Evercore ISI decreased their target price on Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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 owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.